Sec 44af are connected with sale tax return

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

14 August 2015 Sir, one of the my client earned income from Tractor & water tanker & i shown such income u/s 44AF. THERE IS NO NEED OF MAINTAIN OF BOOK BUT IN CASE OF SALE TAX WHEATHER THERE IS NEED TO FILE VAT RETURN & MAINTAIN BOOK OF ACCOUNT IN WHAT CIRCUMSTANCES

Amol S Joglekar

Amol S Joglekar (Expert)
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14 August 2015 income grom tractor and water tanker is NOT exigible to VAT. It is liable for SERVICE TAX. So please check the limit of service tax.
And one more point : 44AF does NOT say dont maintain books of accounts. What it says is Income Tax department will not ask for "books of accounts" A man of ordinary prudence will always keep the accounts although they may not be in the form as specified by section 44AA or like.