I HAVE ALL MY RECEIPTS IN CASH ABOVE RS. 1.00 LACS PER RECEIPT, ANNUAL RECEIPT IS ABOVE 2.00 CR ,I AM COVERED U/S 44AD. DO I HAVE TO MAINTAIN DETAIL OF MY CUSTOMERS WITH THEIR PAN ETC.
GULSHAN ARORA (PROPRIETOR) (27 Points)
26 May 2015I HAVE ALL MY RECEIPTS IN CASH ABOVE RS. 1.00 LACS PER RECEIPT, ANNUAL RECEIPT IS ABOVE 2.00 CR ,I AM COVERED U/S 44AD. DO I HAVE TO MAINTAIN DETAIL OF MY CUSTOMERS WITH THEIR PAN ETC.
Nikhil Kaushik
(Fellow CA)
(85059 Points)
Replied 26 May 2015
i hope you understand that once your receipt cross Rs 1 cr you cannot be covered under 44AD.
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