06 January 2016
sir if i am file a ITR under Section 44AD if my presumptive turnover is exeed 10lac in maharashtra state can i applicable for VAT registration or service tax registration but I am not maintain any books of business so how can i explain to officer if i get any notice from department
06 January 2016
Dear in you case it will be difficult to explain to the concerned office. The non registration under Vat since your turnover exceeds Rs.10 lakh will attract penalty for non registration and seems no way out to prevent it. Also the turnover shown under income tax in itr is a conclusive proof of turnover.
CAclubindia
