20 January 2016
respected sir, i have filed my return of income for ay 2014-15 under sec-44ad.and now , notice served upon me in respect of bank deposits made during ay 2014-15,.the AO asked me to produce cash-flow state ment for perticular year. up to my knowldge ,as i have filed my return under sec-44ad ,i need not to maitain books of occounts under sec -44aa.please some one clarify that , whether cash flow statement forms part of books of occount or not.thanks in advance.
20 January 2016
Definitely, in order to know your turnover they may ask your bank statement to know inflow, turnover declared u/s 44AD should be justify with your in flow.