Save Rs 588 on a 2-Year Ad-Free CAclubindia Pro Membership. Subscribe Now!

Maintain books of accounts

Save Share

Join Us Follow Us Add as Source

This query is : Resolved

Report Query Ask a Query

Querist : Anonymous

Querist : Anonymous (Querist)

24 July 2014 hi,

My brother is an enginner work in a company as a interen.His interen ship stipend is Rs.25000 per month Comapny deduct his Tds under Professional @10% as Consultant.

Is it mandatory to maintain books of accounts u/s 44AA .In ITR-4 how it is shown?

Nikhil Kaushik

Nikhil Kaushik (Expert)

24 July 2014 i believe your brother is a student. ask him to show expenses for more than Rs 1.30 lakhs. Then there wont be any need to maintain accounts.

Querist : Anonymous

Querist : Anonymous (Querist)

24 July 2014 No he is not student.It's company policy that first they appoint as a interen after some time then they permanent that candidate

Nikhil Kaushik

Nikhil Kaushik (Expert)

24 July 2014 then show expenses to the extent that net income is less than Rs 1.2 lakhs.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now