TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Professionals and businesses must keep accounting records enabling tax authority to compute income; thresholds and presumptive rules apply</h1> Persons carrying on specified professions (legal, medical, engineering, architectural, accountancy, technical consultancy, interior decoration or other notified professions) must maintain books and documents sufficient for the tax authority to compute total income. Other professionals or businesses must keep such records if their professional/business income or turnover exceeds prescribed thresholds (higher thresholds for individuals/HUFs and specific limits for new businesses), or in certain deemed-profit situations or where special presumptive provisions apply. The tax Board may prescribe by rules the nature, form, place and retention period of the accounts and supporting documents.
TaxTMI 
TaxTMI 
