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Maintenance of books of accounts

This query is : Resolved 


Querist : Anonymous

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Querist : Anonymous (Querist)
In case a person is running 3 proprietorship firms of houskeeping, tours & travels & caters. Total reciepts from all three is Rs 14.50 Lacs. He is showing a combined net profit of Rs 3.80 Lacs. Is he required to maintain books of accounts for AY 2012-13?

Yes, his total income exceeds the minnimum exemption limit under the Income Tax Act.

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