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44ad

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(Querist)
24 March 2012 Dear Sir,
When income is offered on presumptive basis @8% u/s.44AD, is it necessary to maintain books of accounts?
Thanks in advance
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Sanjeeva Reddy

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Sanjeeva Reddy (Expert)
24 March 2012 First section 44AD is applicable only if the trunover of the assesee not more than tax audit applicablity limit i.e., Rs 60 lakhs for the AY 2012-13.

Once section 44AD is applied there is no need to maintain the books of accounts

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