No Account Case

hussain (Querist) 27 July 2010 This query is : Resolved
Sir,
My client as done business as Gross Receipt around Rs 3963000/= and not maintain any books of account in this case i can file income tax return as no account case by showing Gross Receipt Rs :- 3963000/= please sugges me.

Thanking You

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Raj Kumar Makkad (Expert) 27 July 2010
It is good to ask your cleint to first maintain books on the basis of available record/receipts/vouchers so that it may facilitate you to file Income Tax return on his behalf.

AMIT BAJAJ ADVOCATE (Expert) 27 July 2010
you can file the return in such case without books of accounts if the assessee is covered under any of the sections covering presumptive income schemes such as section 44AF 44AD etc by declaring income under these presumptive income scheme sections, otherwise the assessee will have to maintain books of accounts u/s 44AA

mahendrakumar (Expert) 28 July 2010
unless books of accounts are maintained he may not be able to claim any expenses for the business .

soumitra basu (Expert) 01 August 2010
You can file the income tax return by showing net profit more than 8%.

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