INVESTMENT CONSULTANCY SERVICES

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

13 July 2010 what does term TURNOVER indicate for the investment consultancy services dealing in mutual funds ? is it amount of investment ?
brokerage/commission from such investment ?
what is the ceiling limit for applicability 44AB for compulsory maintaiance of books of accounts?

Aditya Maheshwari

Aditya Maheshwari (Expert)
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13 July 2010 It would depend upon the nature of business.

If it is on own account then investment to be included in turnover.

If on behalf of clients then brokerage only.