Please Help: Income Tax and VAT
Posted Date : 29-Jul-2011 , 02:33:53 pm | Posted By: CA Rajnish
Category :
Income Tax | Answers :
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Comments :
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What will be the consequence if sales turnover shown in income tax return is different to sales turnover filed in UPVAT?is it traceable for IT deptt.and creat problem to assessee.What to do?Expert answer please. |
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Answers:
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 Answer by: Anjali Arora |
| Yes it can be traceable, so better dont take any Risk
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| Answer by: CA. Sachin Data |
| yes dear....it can defintely create some problem. It is better to revise the same.
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| Answer by: PRIYANKA |
| The higher is the income higher are the chances of these getting reconciled with each other sooner or later. Nowadays at the time of efiling your sales tax return ur PAN NO. is also asked at most of the state VAT sites, so nowadays risk of these figures being reconciled with each other has increased, so its always better to make sure that the figure of turnover quoted in income tax dept and sales tax dept do match with each other.
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| Comments |
| Posted By : CA Rajnish |
30-Jul-2011, 05:24:58 |
| Thanks to all my friends and couligues. |
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| Posted By : |
29-Jul-2011, 03:22:56 |
| NIce question's.. |
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| Posted By : CA VIPIN GARG |
29-Jul-2011, 02:56:56 |
| Although it is very difficult that it will be traced but yet there is risk exist to avoid the same i will advise to revise the either return to match both of them.
If u still want to take risk thats upto you my respectable.
hope u got ur answer and have a nice day...... |
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