compulsory maintenance of BOA

This query is : Resolved

CA Abhishek Singh (Querist)
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13 April 2009 DEAR ALL

IS ONE LIABLE TO COMPULSORY MAINTENANCE OF BOA IN THE FOLLOWING CIRCUMSTANCES

1) MR. X PROPRIETOR NET PROFIT IN PREVIOUS YEAR IS RS. 175000/-

2) MR. Y PROPRIETOR HAS TURNOVER OF RS. 1500000/- BUT NP OF RS. 145000/-

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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13 April 2009 If the asessee is other than a 'specified professional' in both the situations he has to maintain BOA.

CA.Tarun Maheshwari

CA.Tarun Maheshwari (Expert)
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13 April 2009 Agree with the views.

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C A GROUP COACHING

C A GROUP COACHING (Expert)
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14 April 2009 AGREE WITH THE VIEW OF ABOVE EXPERTS
IN SITUATION 2 OF MR Y YOU HAVE MENTIONED T/O WHICH MEANS HE IS INTO BUSINESS & NOT PROFESSIONAL, SO B O A BECOMES COMPULSARY