Failure to maintain books of accounts
This query is : Resolved
19 July 2012
Dear sir
An individual Proprietorship concern having turnover below 6000000 in the AY-2012-13 . Is it compulsory maintains books of account or not. If yes he is failure to maintain books of accounts how much penalty and interest, others amount he should be paid?
An individual Proprietorship concern having turnover below 6000000 in the AY-2012-13 . Is it compulsory maintains books of account or not. If yes he is failure to maintain books of accounts how much penalty and interest, others amount he should be paid?
CS ANAND RAVADA
(Expert)
19 July 2012
not required to maintain. In the case of offered lesser profit, books are required to maintain and audited.
2.penalty does not arise
2.penalty does not arise
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