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  • 13 years ago
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Income tax audit clearace

Reported on August 20, 2011 from Ahmedabad , Gujarat  ι Report #4368

Due to industrial recession we had to sell our product at lower profits due to which company gross profit % went down by 2 % . officer asked for the reason of GP fall we explained in detail and in full written but as his hand was not full he use to tell iam not convience . As we did not offer him bribe for one or two hearing at last he told us that give me 3 lac rs or i will disallove gp fall of 2 % and you will pay more rs thane this along with interet . if you go to appeal max they will reduct to 1.5 % plus you will have to pay lawyer charges so finally to avoid this procedure we paid him as for small company we cannot handle cases and lawer feess

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