Poonawalla fincorps
Poonawalla fincorps

Partnership firm

This query is : Resolved 
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(Querist)
17 August 2018 A Partnership Firm engaged in business is willing to file ITR-5 U/S AD.Whether it is required to maintained books of account U/S 44AA or can file so without maintain books of account net profit within permissible limit U/S 44AD.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
17 August 2018 If 44AD is opted, no need to maintain books of accounts for the purpose of
income tax.

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