Maintaince of books of account

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SUNIL GIDWANI (Querist)
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25 August 2014 HI,
PLEASE LET ME KNOW WHEN ASSESSEE NEED TO MAINTAIN BOOKS OF ACCOUNT AS PER INCOME TAX ACT 1961.UNDER THE DIFFERENT CASES:
1-MY ASSESSEE HAS NET INCOME OF RS.325000/-
2- MY ASSESSEE HAS TURNOVER OF RS.3300000/-AND NET PROFIT IS 350000/-

PLEASE REPLY ME WHEN ASSESSEE NEED TO MAINTAIN BOOKS OF ACCOUNT.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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25 August 2014 when total income exceeds rs 1,20,000 then compulsory to maintain books of accounts.

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Rupesh Jain

Rupesh Jain (Expert)
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26 August 2014 there is compulsory book of a/c when your income exceeds rs. 120000/-

Message likes : 1 times

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SUNIL GIDWANI

SUNIL GIDWANI (Querist)
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27 August 2014 THANKS FOR THE SOLUTION,
BUT WHICH SET OF BOOKS OF ACCOUNT ARE TO BE MAINTAINED,
AS I HAVE TO FILE ITR-4, AND IT ASKS ALL DETAILS AND I HAVE NOT PREPARE BALANCE SHEET AND CAPITAL ACCOUNT AND OTHERS LEDGERS.