professional fees
This query is : Resolved
sanjay kumar
(Querist)
03 August 2009
if i am getting Rs.673200 as a professional fees and i filed my return in no account ,and deduct Rs.203670 against expenses. Either it is eight or not.If not what step should i take.Plz.suggest me.
Aditya Maheshwari
(Expert)
05 August 2009
If gross receipts exceeds Rs. 10 lakhs or income exceeds Rs. 1.20 lakhs then that person is liable to maintain proper books of account. So you should maintain proper books for the above.
For ITR purposes your treatement seems to be ok. But you should maintain bank book, cash book, journal register, sales register, etc.
For ITR purposes your treatement seems to be ok. But you should maintain bank book, cash book, journal register, sales register, etc.
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