Comment on Tradetax for income tax returns when trading

prasanna commented on 06 Feb 2017, 04:00 PM

Sir, you continue to surprise with your speed and alacrity, thx!

so the essence of the message is, tax dept gets concerned & gets alert only if they are to understand there is a expected loss of revenue (in this case revenue refer to the tax collectible) for them in the coming years hence they will go over drive and demand audit so as to ensure the books are correct as being claimed by the assessee. where profits are being declared and tax being paid they are ok and no audit required.


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