Business profit

Yes, why not?

But what is the turnover?

Transaction nature is most important in posting...

You can also remember the thumb rules of accounting ... which helps initially...

• Debit the receiver and credit the giver. ...
• Debit what comes in and credit what goes out. ...
• Debit expenses and losses, credit income and gains.

For 16 lakhs turnover Rs. 1.50 lakhs profit i.e. around 9.4% is quite acceptable, but follow books for actual data.

@ Honourable Dhirajlal sir , for an example Mr Sanjay is a customer of me  ,he owes from me RS 5 lakh ...so here Sanjay is a sundry debtor ,IAM sundry creditor

                     Sundry creditor ledger account

Dr.                                                   Cr.

To cash /sales xxx              By sundry debtor 5L

Iam I right???

@ Honourable Dhirajlal sir , for an example Mr Sanjay is a customer of me  ,he owes from me RS 5 lakh ...so here Sanjay is a sundry debtor ,IAM sundry creditor

                     Sundry creditor ledger account

Dr.                                                   Cr.

To cash /sales xxx              By sundry debtor 5L

Iam I right???

                personal account : debit the receiver and credit the giver

Don't confuse your self by trying to read his books..

Just read your books...

He is your customer, you supplied some goods/service for 5 lakhs..

So for you he is just DEBTOR....

Now post your entries whenever you get his payment.. For you its receipt...

In Tally if you fill receipt entry................ it will actually post it as...

Cr. Debtor...

Dr. cash/bank..

Dhiraj ji ye actually data hai iski books bani hai kyun ki sir indirect exp bahut hote hai isiliye g.p jyada dikhake n.p set kiya hai g.p se kya to exp hai loss hojayega loss dikha nahi sakte aur g.p badhhake ye n.p set kiya hai 8 % above 44ad

If you are declaring the income u/s. 44Ad of the act, no problem, it will be accepted.