Maintaince of books of account
This query is : Resolved
SUNIL GIDWANI
(Querist)
25 August 2014
HI,
PLEASE LET ME KNOW WHEN ASSESSEE NEED TO MAINTAIN BOOKS OF ACCOUNT AS PER INCOME TAX ACT 1961.UNDER THE DIFFERENT CASES:
1-MY ASSESSEE HAS NET INCOME OF RS.325000/-
2- MY ASSESSEE HAS TURNOVER OF RS.3300000/-AND NET PROFIT IS 350000/-
PLEASE REPLY ME WHEN ASSESSEE NEED TO MAINTAIN BOOKS OF ACCOUNT.
PLEASE LET ME KNOW WHEN ASSESSEE NEED TO MAINTAIN BOOKS OF ACCOUNT AS PER INCOME TAX ACT 1961.UNDER THE DIFFERENT CASES:
1-MY ASSESSEE HAS NET INCOME OF RS.325000/-
2- MY ASSESSEE HAS TURNOVER OF RS.3300000/-AND NET PROFIT IS 350000/-
PLEASE REPLY ME WHEN ASSESSEE NEED TO MAINTAIN BOOKS OF ACCOUNT.
25 August 2014
when total income exceeds rs 1,20,000 then compulsory to maintain books of accounts.
Message likes :
1 times
Rupesh Jain
(Expert)
26 August 2014
there is compulsory book of a/c when your income exceeds rs. 120000/-
Message likes :
1 times
SUNIL GIDWANI
(Querist)
27 August 2014
THANKS FOR THE SOLUTION,
BUT WHICH SET OF BOOKS OF ACCOUNT ARE TO BE MAINTAINED,
AS I HAVE TO FILE ITR-4, AND IT ASKS ALL DETAILS AND I HAVE NOT PREPARE BALANCE SHEET AND CAPITAL ACCOUNT AND OTHERS LEDGERS.
BUT WHICH SET OF BOOKS OF ACCOUNT ARE TO BE MAINTAINED,
AS I HAVE TO FILE ITR-4, AND IT ASKS ALL DETAILS AND I HAVE NOT PREPARE BALANCE SHEET AND CAPITAL ACCOUNT AND OTHERS LEDGERS.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- EPF ECR NEW RULES Sep 17th 2026
- Transfer of Physical Stock Between Two Proprietorship Concerns
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- MSME disclosure and disallowance
- Issuing of delivery challan by seller of goods
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
