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Business Income

This query is : Resolved 
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(Querist)
14 July 2010 When does the assessee have to show his Profit & Loss Account and Balance Sheet in his/her return? (Income Limit)?
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Akhil Agrawal

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Akhil Agrawal (Expert)
15 July 2010 if he is not covered under the Presumptive Taxation then i think in return he has to show that he is maintaing Books of Accounts & thus Show BS & PL
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CA. BIJENDER KR. BANSAL

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CA. BIJENDER KR. BANSAL (Expert)
15 July 2010 IF HE IS LIABLE TO MAINTAIN REGULAR BOOKS OF ACCOUNTS, THEN HE HAS TO SHOW PROFIT & LOSS & BALANCE SHEET .

THE SAME WORD USED IN ITR 4, YOU CAN CROSS VERIFY IT.
IF HE IS NOT LIABLE , THEN ONLY HE HAS TO GIVE FIGURE OF TOTAL DEBTORS, TOTAL STOCK IN HAND, TOTAL CREDITORS,TOTAL CASH IN HAND ONLY.
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