29 November 2013
There are 2 possibilities- 1. You will produce it, or . 2 You will not produce it. . Special Business also ....has possibilities-
2 of them -
1. It's a 44AD Business 2. It's other than 44AD business. . When in connection with other than 44AD business balance sheet is required and you have to produce it for saving your return from being treated as a defective return. . In case of 44AD business you may plead that no Balance sheet has been prepared in the absence of regular books of account. . However, the 4 details mentioned in the return are required to be substantiated. So A statement of Affairs can be prepared and shown by incorporating the 4 details. .
CAclubindia
