Comment on Taxation Simplified
commented on
28 Jul 2013, 06:20 PM
Srinivas,
Professional charges for CA can vary quite a bit, but 10k is a pretty decent prize.
If you show your profit over 8% of the turnover, yes you can pay taxes and get away without an audit, this is a loophole in the system for now. But the thing is, you would have declared wrong information and there are chances of this coming back to you, very little but definitely a small chance which is best avoided.
If you have not filed for last year, you can still file it now, but you will not get the benefit of the losses being carry forwarded. But you will find CA’s who will do without this as well..
Cheers,