Tax on commision of 25 lacks

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Dipak Gulhane (Querist)
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23 June 2012 MY CLIENT GOT COMMISION INCOME OF 25 LACKS...HER TDS IS 2.5 LACKS...SHE DONT HAVE ANY BILLS IN HER NAME SO SHE CANT PRODUCE ANY RECORDS OF EXPENSES....WHO MUCH EXPENSES SHE CAN CLAIM IN SUCH CASE...ALSO WHAT CARE I HAVE TO TAKE FOR FILLING HER RETURN....I DONT HAVE EXPERIENCE FOR FILLING SUCH BIG RETURNS....PLZ GIVE UR GUIDENCE....7276993000

EGOURLY WAITING FOR YOUR HELP

baijnath agarwal

baijnath agarwal (Expert)
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24 June 2012 if tds deducted and paid to govt, u have to file return showing the commission amount in full, if not paid show expense in different names, and try to found bills otherwise the purpose of paying such huge commision is if allowed u can pay it .. there is no problem file the itr accordingly

Dipak Gulhane

Dipak Gulhane (Querist)
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24 June 2012 Sir...TDS is deducted...also i wish to know she dont have any expenses records...in such case how much max. expenses i can show to avoid scutiny since in that case no records will be available to produce to AO.

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Soumitra Basu

Soumitra Basu (Expert)
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24 June 2012 Claim estimated and reasonable expenses as 30% or 40%. In absence of books of accounts and vouchers the same will be allowed.

Dipak Gulhane

Dipak Gulhane (Querist)
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24 June 2012 RESPECTED EXPERT, CAN I USE "IF NO BOOKS OF ACCOUNTS MAINTAINED OPTION" FOR SUCH BIG INCOME OF RS.25 LACKS & SHOW ONLY GR/GP/EXP/NP & ONLY DEBTORS/CREDITORS/STOCK/CASH ONLY...WHETHER IN SUCH CASE PENALTY WILL BE LEVIED...?