Books for agricultural activities

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ashish alexander (Querist)
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21 February 2014 Should any books be maintained in case there is both agricultural and business activity for an individual?

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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21 February 2014 yes if business activity earns more then 120,000 then as per sec 44AA books are nmandatory to be maintained.

ashish alexander

ashish alexander (Querist)
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21 February 2014 should the books be maintained for agricultural activities if there is no link between both (biz or agr)

Nikhil Kaushik

Nikhil Kaushik (Expert)
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23 February 2014 well it would be advisable to keep records of income and expenses for the agriculture activity too as it needs to be disclosed in the tax return

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