Threshold limit for newly established business is determined by the current year's income or turnover for books maintenance. Where a business or profession is set up during the previous year, the applicable threshold limit for maintaining books of accounts is assessed by ... Summary
Threshold limit for newly established business is determined by the current year's income or turnover for books maintenance.
Where a business or profession is set up during the previous year, the applicable threshold limit for maintaining books of accounts is assessed by reference to the income or gross turnover/receipts of the current year rather than the partial previous year.
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