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Commission income

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21 Points Joined August 2019
Does commission income of Rs. 1lakh requires any books of accounts. and under which head it will be?
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On 26 January 2021 at 22:24 Report
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Chartered Accountant
24588 Points Joined November 2019
Not required for books of accounts
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On 26 January 2021 at 22:34
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Artical
33 Points Joined October 2012
Refer section 44AA
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On 27 January 2021 at 01:04
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Chartered Accountant
24588 Points Joined November 2019
Not required as income is less than 150000 rupees for notified profession and 1000000 rupees as per normal profession
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On 27 January 2021 at 06:25
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3924 Points Joined December 2017
As per Amendment in Fanance Act 2017 .w.e.f. 1/4/2018 for Individual Income more than 2,50,000/- or turnover more than 25,00,000/- ,one has to maintain books of accounts .
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On 27 January 2021 at 07:37
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17264 Points Joined December 2018
No books of accounts
Business income being commission received if regularly or IFOS if casually
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On 27 January 2021 at 11:48

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