Sec 44ab
This query is : Resolved
Guest
Guest
(Querist)
29 April 2013
Hello,
Is it mandatory to maintain books in ACCRUAL basis if the firm's gross receipts crosses 1Cr rupees(Applicability of tax audit)
Is it mandatory to maintain books in ACCRUAL basis if the firm's gross receipts crosses 1Cr rupees(Applicability of tax audit)
29 April 2013
Not mandatory. Refer section 145(1) of the Income tax Act,1961.
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