05 August 2013
I have recd professional fee for teaching in private classes per lecture basis. Total amount for the F.Y 12-13 is Rs. 230000/-whether I have to maintain books of Account under section 44aa of income tax pls guide. Also pls let me know if the due date of filing of ITR on 05/08/2013 upto what time I have to upload online retrun before 12Am pls guide about the timing.
08 August 2013
Books of accounts have to be maintained if the turnover or gross receipts exceed Rs. 10 lakhs or income from business or profession exceeds Rs. 1,20,000
In this case the gross receipts do not exceed Rs. 10 lakhs.
If you show income more than Rs. 120000 then books of accounts will have to be maintained.
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