44ad

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

22 September 2013 Dear Sir,
If an assessee has opted the section 44AD, then even after that whether the department can issue him notice u/s 143(2)
or not?

Please clarify

CA Rinkal

CA Rinkal (Expert)
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23 September 2013 yes they can issue notice u/s. 143(2),

but there is very rare chances of issue of the same,

Querist : Anonymous

Querist : Anonymous (Querist)

23 September 2013 What papers they can ask to produce.

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CA Rinkal

CA Rinkal (Expert)
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23 September 2013 your books of account

just like cash, bank etc..

now you ask me that as per rule,

the assessee who applies 44 AD, they need not to maintain books of account.. but it's wrong you have to keep the same for scrutiny purpose.

Querist : Anonymous

Querist : Anonymous (Querist)

23 September 2013 Then what is the benefit of opting books of accounts when even after opting 44AD, department will ask to produce accounts.

CA Rinkal

CA Rinkal (Expert)
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24 September 2013 my dear friend...

i have already told you that there is very rare chances of scrutiny...

that's why this option is good..