16 March 2016
Dear expert i want to know that as per u/s. 44ad there is no need to maintain books of account but while at the time return file it is necessary to feed 4 items i.e. sundry debtors,creditors,cash and stock but my doubt is if we don't maintains books of account than how we are able to acertain that 4 items? please reply soon
16 March 2016
Dear It's true you need not required to maintain books. But practically every businessman prepare the kacche khate so that the have control over the debtors or creditors. Every businessman know from whom how much money is to be received. Also they know how much to pay. Hence you need to fill this info. It is not necessary to fill the amount you can fill it 0.
CAclubindia
