not maintained a/c

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

13 July 2011 dear sir,
1) iam running a restaurant with turnover approx. 9 lacs per annum. Not maintaing any record. approx. profit 20%.
is it compulsory for me to maintained a/c ? and what is the limit in which I have to maintained a/c .
please provide the details.
thanks.

U S Sharma

U S Sharma (Expert)
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13 July 2011 you have to maintain atleast cash register to ascertain your turnover,
under 44AD (minimum 8% net profit declared) you are not required to maintain detailed books of accounts, but minimum accounts to establish your turnover.

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