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 12000 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)

  1. Practical Income Tax
  2. Important Changes in Income Tax 2017-18
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About the Author

CA Maninder Singh's photo - Expert in Practical Accounts, Taxation and Efiling
CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 8 years. He provides courses for Practical Accounts, Taxation and Efiling at teachoo.com .
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