No accounts

This query is : Resolved

MALAY DAS (Querist)
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31 July 2013 dear sir
having commission income 190000 for ass year 13-14 but he no any books of accounts
now how it can be filled? please advice me
thanks.......

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
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31 July 2013 Don't worry file it as no books of accounts case.

Actually as per the section 44AA those who exceeds Rs.1,20,000 gross receipts for business is required to maintain regular books of accounts but according to my experience many of the assessees filing their return of income as no books cases.some of our clients also filed as like that but till not didn't face any problem.

OM SAI SRI SAI JAI JAI SAI

MALAY DAS

MALAY DAS (Querist)
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31 July 2013 dear tirumala sir
many many thanks to you that you encourage
me all the time and give valuable and practical advice. actually most of cases
like same, so I also want to know that if
I gross receipt show as net income in no account cases without showing expenses their is any problem? please give your valuable opinion in detail if possible. thanks.......

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Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
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31 July 2013 I am saying the same don't worry it will not make any problem to you file it as no books case. I am saying with my practical experience because in my service i saw no of cases like that and filed as no books of accounts case and got refunds and completed assessments by the department and doesn't face any problems till now.

OM SAI SRI SAI JAI JAI SAI

Ganeshbabu K

Ganeshbabu K (Expert)
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31 July 2013 Yes, it is true we too got refunds to our clients in this way..

but i offered total commission received a profit in no accounts case sheet PL in serial no. 51..

i mean with out claiming any exemptions