Can a professional maintain books on cash basis?

Nishant (Accounts Assistant) (378 Points)

26 July 2016  

Can an “individual” person who has

gross receipts of Rs. 5,40,000 with TDS of Rs.54000

maintain books on cash basis?

 

(Note : He is not bound to collect/pay service tax as his Total receipts is less than 10lakhs)