How can you are calculate income if customer not filing the income tax return in business class

Question

Accepted Answer

To calculate income for a customer not filing income tax return in business class, alternative methods can be used.

Review bank statements and financial records to identify income sources and patterns
Consider industry benchmarks and market research to estimate income
Assess the customer's assets, investments, and property ownership to determine potential income
Analyze the customer's business expenses and profit margins to infer income
Request additional documentation such as invoices, contracts, or sales records to support income calculations

Accepted Answer

Bank statement cheak & his monthly expenses & investment calculation

Helpful

Accepted Answer

Bank statement cheak & his monthly expenses & investment calculation

Accepted Answer

Bank statement cheak & his monthly expenses & investment calculation

Accepted Answer

The taxable income is calculated by deducting the cost of goods and experience from the total sales

Accepted Answer

I will average his or her current account 1 year bank statements

Accepted Answer

I will analyse the client's latest 6 months official bank statement

Top ESAF Small Finance Bank Credit Officer interview questions & answers