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Requirement of books of account

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245 Points Posted on 02 January 2019
sir . i am receiving salary from partnership 206000 and receive interest on capital 27584 and share of profit 62962 and other income from canteen 210000 . and my receipt from canteen is 1800000 ... whether am i eligible for maintain of accounts under income tax act
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On 02 January 2019 at 21:13 Report
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Accountant
3479 Points Posted on 02 January 2019
yes, you need to maintain books of accounts
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On 02 January 2019 at 21:22
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47 Points Posted on 02 January 2019

Hello Ankit,

Since your income is more than Rs 2,50,000/- you need to maintain books of accounts.

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On 02 January 2019 at 21:38
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4 Points Posted on 02 January 2019
SINCE BUSINESS INCOME IS EXCEEDING RS. 250000.00, BOOKS OF ACCOUNT HAS TO BE MINTAINED. SALARY FROM FIRM AND INCOME FROM CANTEEN ARE TREATED AS INCOME FROM BUSINESS
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On 02 January 2019 at 21:54


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