Is profit and loss account and balance sheet is necessary ?

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Querist : Anonymous

Querist : Anonymous (Querist)

23 July 2018 I meant P&L a/c and balance sheet is necessary for PGBP income from commission as an agent of mutual fund.

Bhaskaran Chackrapani Warrier (Expert)
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23 July 2018 No need if income do not exceed Rs. 2,50,000 or gross receipts do not exceed
Rs. 10,00,000.

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