Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Discussions Forum
Home Forum Income Tax This

A Public Forum.
Acknowledging the Value of Experts.

Contribute Your Wisdom, Shape the Future.
Let Your Experience Guide Others

Submit new Issue / Query     My IssuesMy Replies
A free service.
You may submit an issue for brainstorming also.

Arm twisting stratergy, Income Tax

Issue Id: - 108208
Dated: 7-3-2015
By:- dakshesh shah

Arm twisting stratergy


  • Contents

Dear Sir,

Please guide us what to do regarding issue of IT related to bogus purchase. We are told by IT that we should accept amount and pay as per the 12.5% profit ratio for eg: - if purchase of ₹ 1000000/- is bogus purchase as per them then we have to accept 12.5% profit and on that profit they will charge 30% income tax + interest + Penalty if we accept this way or if we dont then they will charge whole 12.5% (known as 100% addition) and they will issue order. Please guide us what a common person should do about this.

Posts / Replies

Showing Replies 0 to 0 of 0 Records

No Post / Reply found for this query

Old Query - New Comments are closed.

Quick Updates:Latest Updates