a professional received yearly 900000 rs. and he is not maintained his account book , i want to know that can he use no account maintained case in itr 4 ? and what limit in a.y 2012-13 that mandatory accounts maintained for any professional ?
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Is there will be account maintain for professional
Replies (1)
The condition of maintainance of books and documents by a professional will not apply if his gross total receipt do not exceed Rs 150000 in any one of tyhe three preceding years.
In ur case accounts need to be maintained. if u fails to maintain books then u will be penalised by a penalty of Rs 25000 u/s 271A.
therefore u should not chose the option " books of accounts not maintained"
SUGGESTION TO U:- PREPARE THE ACCOUNTS AND THEN FILE ITR UPTO 31ST AUGUST.
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