Exceeding Business Income 120000/- maintaining books of a/cs

Dear Sim your question is not clear,i will try with the following for you:

                   As per Sec 44AA, if income is from profits & Gains from business then books of accounts is to be maintained if:

a) income exceeds Rs.120000

b)gross receipts/turnover/sales exceeds Rs.1000000 in 3 preceeding previous year or Rs.1000000 in current previous year in case of new business.

               If income is from profits & Gains from Notified Profession then books of accounts is to be maintained if gross receipts exceeds Rs.150000 in 3 preceeding previous year or Rs.150000 in current previous year in case of new business.

                 In your case,you can claim maximum of 40% exp and ue income from business after exp will be 165600,which exceeds the limit of Rs.120000.Hence Books of Accounts is to be maintained.

Thanks Parshu

The Thing is I want to exceed one of my clients income from 120000/- without maintaining books of accounts.

Is it possible in any other way.