In ITR3, Income is 2,30,000. Field : Required to maintain Books of A/cs u/s 44AA if selected as "No", will it be Defective Return u/s 139(9) ? Why ? Is it necessary to give details of P&L A/c & Balance Sheet ?
Amol (Accounting) (432 Points)
23 July 2017In ITR3, Income is 2,30,000. Field : Required to maintain Books of A/cs u/s 44AA if selected as "No", will it be Defective Return u/s 139(9) ? Why ? Is it necessary to give details of P&L A/c & Balance Sheet ?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(170548 Points)
Replied 23 July 2017
"Required to maintain Books of A/cs u/s 44AA if selected as "No", will it be Defective Return u/s 139(9) ? Why ?"
The books of accounts are required to be maintained as per criteria of section 44AA, and not only if net profit is below taxable limit.........
2. YES........... unless section 44AD/44ADA applied.....
Amol
(Accounting)
(432 Points)
Replied 23 July 2017
In that case, in case of an individual, in Balance Sheet , only business related items will come or also personal assets like Investments in Fixed Deposits or Shares?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(170548 Points)
Replied 23 July 2017
Only business related details can be given, no need of mixing capital accounts......
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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