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.
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.
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.
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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