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Books of a/c

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Querist : Anonymous

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Querist : Anonymous (Querist)
22 July 2013 (Teacher) who's Income is below 10 lacs is require to maintain books of A/c
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
22 July 2013 Yes- a teacher is required to maintain books of account if he is earning tuition income.
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If he is getting salary only- then Books of Account are not required to be maintained.
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Ganeshbabu K

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Ganeshbabu K (Expert)
22 July 2013 Books of accounts is mandatory if gross receipts exceeds Rs.120000 as per section 44AA(2)
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