Turnover & np limit for maintain books
This query is : Resolved
Rakesh Sharma
(Querist)
22 August 2016
Dear Experts,
What is limit of turnover & NP for maintain books of accounts for Proprietor, Partnership firm, Company etc.
Please advise.
Rakesh Sharma
What is limit of turnover & NP for maintain books of accounts for Proprietor, Partnership firm, Company etc.
Please advise.
Rakesh Sharma
Soumitra Basu
(Expert)
23 August 2016
THE TURNOVER SHOULD BE LESS THAN 1.00 CRORE AND PROFIT SHOULD BE 8% OF THE TURNOVER. YOU NEED NOT MAINTAIN ANY BOOKS OF ACCOUNTS. THIS IS APPLICABLE FOR PROPRIETORSHIP AND PARTNERSHIP BUSINESS ONLY.
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