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Existing (Financial Year 2016 - 2017 or AY 2017-18)
It is compulsory to maintain books of accounts if
If turnover >10,00,000
or
PGBP Income >1,20,000
or both
in any of last 3 years
(In case of new business, where turnover is likely to exceed 1000000 or Total income Likely to Exceed 120000 during Current Year)
New (Financial Year 2017 - 2018 or AY 2018-19)
It is compulsory to maintain books of accounts if
If turnover >25,00,000
or
PGBP Income >2,50,000
or both
in any of last 3 years
(In case of new business, where turnover is likely to exceed 2500000 or Total income Likely to Exceed 250000 during Current Year)
