Maintenance of books of accounts in the case of an HUF carrying business is mandatory, if the turnover or gross receipts in any one of the three years immediately preceding the previous year exceeds:

CS Executive · Tax Laws and Practice · PYQS · June 2019
Maintenance of books of accounts in the case of an HUF carrying business is mandatory, if the turnover or gross receipts in any one of the three years immediately preceding the previous year exceeds:
(A) ₹10 lakh
(B) ₹15 lakh
(C) ₹25 lakh
(D) ₹100 lakh

Answer & Explanation:

Correct Answer: Option (C)

Official answer key: (C).

Topics: Income Tax Act, 1961

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