Maintanance of books of accounts

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chauhan devendra (Querist)
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29 July 2013 Dear Friends,

Please help me...

individual has dealership of Vadilal and getting commission every month around 40000.. and he is also a teacher in school..

He want to file return..

Now, tell me that Balance Sheet and Profit and loss account in Itr-4 has to fill up or not?

Regards,
Devendra

Ganeshbabu K

Ganeshbabu K (Expert)
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29 July 2013 1)yes, as gross receipts exceeds more than 120000 it is mandatory to maintain books of accounts as per section 44AA

2)so please prepare PROFIT AND LOSS FILE RETURN ACCORDINGLY