Sub brokerage
my sub brokerage income/commission is below 150000/- do I need to maintain any books of accounts. Up to how much books of accounts need not required
Replies (1)
For an individual sub-broker, you are not required to maintain formal books of accounts if your annual business income is ₹2.5L or less AND your annual turnover is ₹25L or less (based on the last three years). If you exceed these limits or choose to maintain electronic records, ensure you comply with the new daily backup requirements to avoid penalties.
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