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Turnover & np limit for maintain books

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(Querist)
22 August 2016 Dear Experts,

What is limit of turnover & NP for maintain books of accounts for Proprietor, Partnership firm, Company etc.

Please advise.

Rakesh Sharma
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Soumitra Basu

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Soumitra Basu (Expert)
23 August 2016 THE TURNOVER SHOULD BE LESS THAN 1.00 CRORE AND PROFIT SHOULD BE 8% OF THE TURNOVER. YOU NEED NOT MAINTAIN ANY BOOKS OF ACCOUNTS. THIS IS APPLICABLE FOR PROPRIETORSHIP AND PARTNERSHIP BUSINESS ONLY.

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