11 December 2010
sir our client krina shop (pachari or angadi) is having tot (tax on turnover) is 7 75 360/- he is savings 2 00 000/- this amount is given to others inters rate @36% interest income is 72 000/- business inocme is 1 16 304/- (u/s 44Af higher income declared 15% on turnover ) net income is 1 88 304 he can maintain the books of accounts.
11 December 2010
sir we are higher profit of 15% and interest rate also 36% so business income less than 1 20 000 because no book of account. other income of interest income can treated. so we can filed the above type our AO accepted or give 271 notice and collect 5000/- fine. the above type we are filing any problem in e filing time, the coloum of books of account maintained under U/s44 a applicable we are un tick mark and filed. any feature problem. thanks sir immediately reply.
CAclubindia
