Requirement of books of accounts
This query is : Resolved
26 June 2015
Hello experts,
Mrs A is receiving 84000/- professional receipt (tution fees) for the year 2014-15. does she require to prepare books of a/cs that is p/l, balance sheet ?
can you guide me which section will be applicable for this ?
kindly solve my query asap
thanking you
Mrs A is receiving 84000/- professional receipt (tution fees) for the year 2014-15. does she require to prepare books of a/cs that is p/l, balance sheet ?
can you guide me which section will be applicable for this ?
kindly solve my query asap
thanking you
26 June 2015
if she a professional as described by you then check whether covered under sec 44AA, if yes then books needs to be maintained.
27 June 2015
thanks for reply
will you please guide even though having total income of 84000/- p.a. only does she required to prepare profit and loss and balance sheet for fy 2014-15 ? is there any limit for non requirement of books of accounts ?
will you please guide even though having total income of 84000/- p.a. only does she required to prepare profit and loss and balance sheet for fy 2014-15 ? is there any limit for non requirement of books of accounts ?
27 June 2015
thanks for reply
will you please guide even though having total income of 84000/- p.a. only does she required to prepare profit and loss and balance sheet for fy 2014-15 ? is there any limit for non requirement of books of accounts ?
will you please guide even though having total income of 84000/- p.a. only does she required to prepare profit and loss and balance sheet for fy 2014-15 ? is there any limit for non requirement of books of accounts ?
Soumitra Basu
(Expert)
30 June 2015
SHE IS NOT PROFESSIONAL AS DEFINED IN THE ACT. SHE NEED NOT HAVE TO MAINTAIN BOOKS OF ACCOUNTS.
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