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Account ledger and cash flow statement

06 September 2021

Respected Sir With due respect I want to know that my case for the a.y2017-18 has been selected for scrutiny with the AO in the year upto 2019.but due to burden of overload work the concerned AO could not write the assessment order.Now my case is opened under National faceless scheme and reqire me to produce the complete details of sundry creditors and debtors cash flow statement for the last two years,whereas I have filled my return under section 44AD.Sir can the AO demand the above said material.Thanks.

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Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (177967 Points)
Replied 06 September 2021

The aggregate value of sundry creditors & sundry debtors along with bank balance & cash at hand are required to be filled even in 'No account Case'

For cash flow whatever figures you can derive from the above data, you need to prepare & provide for scrutiny of the current ITR. There is no excuse of books not maintained for these figures/requirement. ITD cannot ask to bring the books, but the data based on which you filed those returns must be provided, whenever asked. Try to focus with affirmative mind, that will help you to solve the problem easily.