Tax Treatment
This query is : Resolved
16 March 2009
A client has the degree of Architect but don't have the license for the same. He is started his own business in the location, Chandigarh. Now he is not maintaining any books of accounts.
1) I am confused to start from where.
2) His income is below Rs 2lacs.
3) Not maintained in P&L and B/S.
4) Head's of income shown is: Under the head of Consultancy & Contract.
5) TDS was charged under the head of consultancy and contractor.
Can anyone tell me how to go with it.
Regards
Mannu
1) I am confused to start from where.
2) His income is below Rs 2lacs.
3) Not maintained in P&L and B/S.
4) Head's of income shown is: Under the head of Consultancy & Contract.
5) TDS was charged under the head of consultancy and contractor.
Can anyone tell me how to go with it.
Regards
Mannu
CA Tilak Raj Sharma
(Expert)
16 March 2009
The person profession comes under "Specified Profession" as per section 44AA. As per section 44AA, if the gross receipt of person carrying specified profession exceeds Rs. 150,000 then such person is required to maintain books as defined under rule 6F like cash book, journal register, ledger etc.
CA Tilak Raj Sharma
(Expert)
16 March 2009
So you need to prepare books of accounts and then prepare the profit & loss account and balance sheet.
I am a Chartered Accountant from Solan. I also have some of my client in Chandigarh, if you think that you need my help then you can contact me on ca.tilakrajsharma@yahoo.com or 9805028580.
I am a Chartered Accountant from Solan. I also have some of my client in Chandigarh, if you think that you need my help then you can contact me on ca.tilakrajsharma@yahoo.com or 9805028580.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Capital Gail Exemption Certificate
- Unable to File TDS Q2 Return – New TRACES Portal Error
- EPF ECR NEW RULES Sep 17th 2026
- MSME disclosure and disallowance
- Issuing of delivery challan by seller of goods
- Taxation of crypto futures in India Fy 2026- 2027
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Accounting treatment of AMC alongwith the purchase of Laptop
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
