30 July 2019
My client is an LIC agent, he earns income more than INR 60000.00 during 2018-19, is its mandatory to fill up P&L & B/S ? or any other possibility to disclose the income by 'no account case' as the party not maintain any books of accounts?
30 July 2019
If the gross receipts do not exceed 10 lakhs or income do not exceed 1.20 lakhs, no books of accounts need to be maintained. In that case can file ITR with no books option.
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