Maintenance of accounts section 44aa
Querist : Anonymous
Either the income exceeds Rs. 1,20,000 or the turnover exceeds Rs. 10 lakhs.
If one of the conditions is satisfied the assessee is required to maintain books of accounts.
Since your income exceeds Rs. 1,20,000, you are required to maintain books of accounts even if your turnover does not exceed Rs. 10 lakhs.
Either the income exceeds Rs. 1,20,000 or the turnover exceeds Rs. 10 lakhs.
If one of the conditions is satisfied the assessee is required to maintain books of accounts.
Since your income exceeds Rs. 1,20,000, you are required to maintain books of accounts even if your turnover does not exceed Rs. 10 lakhs.
Querist : Anonymous
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