i have started a new consultancy business regarding advising for properties , and i also do some type of miscellaneous work typing , photocopies , printout i get all money in cash , i do not have any account book , and my consultancy is also not registered , will it create a problem if i file income tax in next year , I want to file income tax in next year. i earn around 50,000/- per month, how do i maintain all this. please suggest i will be highly oblige you
06 June 2017
With regard to the registration, do you mean that you do not have the requisite trade license? With regard to the payment of tax, you need not register your business. Even if you are not registered you need to pay tax as per the tax slab prescribed in the Income Tax Act. Since your yearly income exceeds INR 300000; you need to pay income tax. Books of accounts needs to be maintained if your income exceeds INR 10,00,000
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