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Querist : Anonymous

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Querist : Anonymous (Querist)
12 December 2009 If a person does not maintain his/her books of accounts for a proprietorship business, under which section he should file his return and how?
Thanking you in advance
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CA SURENDRA KUMAR RAKHECHA

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CA SURENDRA KUMAR RAKHECHA (Expert)
13 December 2009 u/s 44AF if he is a retail trader. It is deemed that a retailer is not maintaing proper books of account.

Return will be filed u/s 139(1) but net profit u/s 44AF will be decided @ 5% of turnover (sales).
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Murtaza I Bhagat

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Murtaza I Bhagat (Expert)
13 December 2009 agree
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Querist : Anonymous

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Querist : Anonymous (Querist)
13 December 2009 thank you thanx a lot

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