ITR 4

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

11 July 2011 IN ITR4 OPTION IS THERE WHETHER BOOKS OF ACCOUNT IS MAINTAINED OR NOT. SO WHEN WE HAVE TO MAINTAIN BOOKS OF ACCOUNT.

IF INCOME IS 159000/- THEN WE HAVE MAINTAIN BOOKS OF ACCOUNT IN BUSINESS OF REAL ESTATE AGENT.

Ravikant

Ravikant (Expert)
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11 July 2011 if the income from business exceeds one lakh twenty thousand rupees or total sales, turnover or gross receipts, as the case may be, in business exceed or exceeds ten lakh rupees in any one of the three years immediately preceding the previous year

or

where the business is newly set up in any previous year, the income or gross receipts exceeds the above limit

Hence, you have to maintain books