BIR Ruling No. 065-61
BIR Ruling No. 065-61 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Feb 23, 1961
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February 23, 1961 BIR RULING NO. 065-61 In reply to your letter dated . . ., I have the honor to inform you that for the operation of a sari-sari store, you are required to keep books of accounts. However, if your gross sales every quarter do not exceed P5,000.00, you may use only a simplified set of bookkeeping records. The record of daily sales and disbursement is in fact a part of said simplified set of bookkeeping records. Said book should be submitted to the Provincial Revenue Officer or to the Municipal Treasurer for approval and registration before using them. If your gross income for the taxable year exceeds P1,800.00, you are required to file an income tax return; otherwise, not. aisadc
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