Sir , the small retail trader don't know anything about Taxation leave apart audit etc . When the situation is as such & CA does wrong things , what can the retail trader do?
This is the situation with some of my friends, so asking the guidance of Nikhil sir as the filing has already been done .
Thanks
My dear friend,
not knowing about a law, that is
ignorance is no excuse, anywhere.
I myself has faced such a situation, when I entered in business field (not fno trading), with no commerce background, long time back. In the time, when there was no internet, bought taxman books and tried to understand atleast basics. These days many websites on tax are providing all sort of knowledge, basic to very advanced. So only for knowledge purpose, spend some time there and gain some knowledge. It will be very helpful, not only for now but future course of time also.
You will understand a CA advice in a better way, only and only if you know atleast basics, or better some thing advanced as well. Otherwise everyone from your accountant to taxman (if anyone of them has bad intentions), will try to suck you.
BTW, in your case I am still unable to understand how a CA will reduce turnover, so as to avoid audit. BUT, if you meant that your CA deliberately tinkering with the numbers and posting lower turnover in ITR, instead of actuals, then it is a very serious issue and may prove costly.