Return filing

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

22 July 2015 Respected sir,

I have internet cafe, also i do scanning , printing, lamination works and also i receive commission from forex .
Is it necessary to prepare profit and Loss a/c for such business or Income and Expenditure a/c is better ?
Kindly reply.

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

22 July 2015 depends on applicable of 44AA....

Message likes : 1 times

Querist : Anonymous

Querist : Anonymous (Querist)

05 August 2015 Thanks a lot, receipts from internet cafe is around 120000 pa and commission recd is around 150000/- pa. so it would be better to prepare profit and loss a/c? plz let me knw. thanks.

Upgrade to CAclubindia Pro. Subscribe Now!

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

05 August 2015 yes, if the profit is in excess of Rs 1.2 lakhs

Message likes : 1 times