business 116304 & interest income 72000 can maintain books
This query is : Resolved
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.
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
Yes he should maintain books of accounts to show lower profit.
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.
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.
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