HELLO FRIENDS, MY CLIENT DOES THE NETWORK MARKETING BUSINESS IN WHICH WHEN ANYBODY JOINS THE BUSNESS THROUGH HIM THE CLIENT GETS THE COMMISSION IN DOLLARS BUT THE DELIVERY OF DOLLARS IS NOT PHYSICAL AND HE SELLTHE DOLLARS AND GETS THE MONEY RECEIVED IN INDIA. BUT HE HAS NOT MAINTAIN ANY ACCOUNTS.
DURING THE YEAR HE GETS THE COMMISION OF RS. 15,00,0000 AND 10% TAX IS DEDUCTED NOW THE ACTUAL TAX LIABILITY IS MORE.
SO PLS. SUGGEST ME WHAT CAN I DO CAN I MAKE PTROFIT & LOSS A/C AND CLAIMS SOME EXPENDITURE TO REDUCE HIS TAX BURDEN.
WHETHER THIS IS A SPECULATION BUSINESS OR NORMAL BUSINESS VALID IN THE EYES OF LAW.
PLS. HELP ME AND EXPLAIN IT.
I SHALL BE VERY THANKFUL TO YOU.
CAclubindia
