03 November 2020
Does it mean that for those who choose business code 16019 ca not file their return under sec 44AD or 44ADA? Then they have to file under normal provisions. If they do not maintain accounts, then they can indicate profit less than 8%, without audit? If they earn a fee of 20 lakhs annually then do they have to compulsorily maintain accounts and provide P & L account and balance sheet?
05 November 2020
Sir, my query is whether in this case, in ITR3, profit can be shown under sec 44AD 0r 44ADA with choosing accounts not maintained or whether accounts are compulsory required to be maintained and P & L and B/S details have to be provided?
CAclubindia
