(ii)carrying on any business or profession whose total sales, turnover or gross receipts are or is likely to exceed ] [five lakh rupees] [ Substituted by Act 21 of 1998, Section 41, for " fifty thousand rupees" (w.e.f. 1.8.1998).][in any previous year; or] [Substituted by Act 22 of 1995, Section 30, for Section 139-A (w.e.f. 1.7.1995).]