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Analysis based on turnover and income

A. Turnover below Rs 10 lakhs and Income below 120,000–  Maintenance of Books not Compulsory
 
B. Turnover Exceeding Rs 10 lakhs but below Rs 100 lakhs and Income above 8% of Turnover - Maintenance of Books Compulsory/ Audit Not Required
 
C. Turnover Exceeding Rs 10 lakhs but below Rs 100 lakhs and Income below 8% of Turnover - Maintenance of Books Compulsory/ Audit Required
 
D. Turnover exceeding 100 Lakhs - Maintenance of Books Compulsory/ Audit Compulsory
 
Further:
Company under Companies Act :  Maintenance of Books Compulsory
 
Charitable Institute/NOT FOR PROFIT organisation : Maintenance of Books Compulsory. Maintenance of Books Compulsory for charitable/ not for profit companies, for the simple reason that they claim they are making no profit.