if an assessee opt for 44ADA Presumptive taxation but as per section 44AA he is required to maintain books of accounts.
but he opted for Section 44ADA,Do he still need to maintain books of accounts and need to show BS and PL in ITR ?
3 Replies
Khush Trivedi
(3946 Points)
Replied 15 June 2024
No if is opting 44ADA then he is not required to keep books of accounts under section 44AA
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 16 June 2024
Yes I agreed the above said replies.
But, keep details of the income source which is You will declare.
In case it's lesser value then questionable.
But, keep details of the income source which is You will declare.
In case it's lesser value then questionable.
Recent Topics
- Eway Bill query for inter state
- Taxability of income in USA of resident oci holder
- Clarity regarding Sec 16(4)
- GST ON HOTEL ROOMS details
- Relief for Delayed Filing of Tax Forms
- Expire stock
- INCOME TAX AY 25-26
- Experienced CA firm for accounting & auditing
- Regarding Perquisite Tax on ESOP - Unlisted Compan
- Casual Taxable Person under GST
Related Threads
CAclubindia
