compulsory maintenance of BOA
This query is : Resolved
CA Abhishek Singh
(Querist)
13 April 2009
DEAR ALL
IS ONE LIABLE TO COMPULSORY MAINTENANCE OF BOA IN THE FOLLOWING CIRCUMSTANCES
1) MR. X PROPRIETOR NET PROFIT IN PREVIOUS YEAR IS RS. 175000/-
2) MR. Y PROPRIETOR HAS TURNOVER OF RS. 1500000/- BUT NP OF RS. 145000/-
IS ONE LIABLE TO COMPULSORY MAINTENANCE OF BOA IN THE FOLLOWING CIRCUMSTANCES
1) MR. X PROPRIETOR NET PROFIT IN PREVIOUS YEAR IS RS. 175000/-
2) MR. Y PROPRIETOR HAS TURNOVER OF RS. 1500000/- BUT NP OF RS. 145000/-
13 April 2009
If the asessee is other than a 'specified professional' in both the situations he has to maintain BOA.
CA.Tarun Maheshwari
(Expert)
13 April 2009
Agree with the views.
C A GROUP COACHING
(Expert)
14 April 2009
AGREE WITH THE VIEW OF ABOVE EXPERTS
IN SITUATION 2 OF MR Y YOU HAVE MENTIONED T/O WHICH MEANS HE IS INTO BUSINESS & NOT PROFESSIONAL, SO B O A BECOMES COMPULSARY
IN SITUATION 2 OF MR Y YOU HAVE MENTIONED T/O WHICH MEANS HE IS INTO BUSINESS & NOT PROFESSIONAL, SO B O A BECOMES COMPULSARY
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