Devendra (Chartered Accountant) (4775 Points)
03 July 2011
Mr. X is a Gym Instructor and receives Rs. 9000 p.m as Professional Fee. In the last quarter TDS is deducted u/s 194J Rs. 3600. Can I show No account Case (ie. only debtors, cash, gross receipts and net profit) in such case?
Please guide.
Regards,
Devendra K
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 03 July 2011
9000*12=108000, which is below 1.2 Lacs , so he is exempted to maintain books of accounts,
he can file return and claim refund, however on a plain chart he has to make a cash flow statement, to comply the professional income and TDS.
| Month | Professional Income | TDS | Date of payment |
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