Lila (Job) (490 Points)
27 June 2023I am filing return for FY 22-23 and my turnover in current year is above 25 lacs. However for preceding 3 years i.e. FY 19-20, 20-21 and 21-22 it is less than 25 lacs. Do I need to maintain books of accounts as per sec 44AA? I am carrying on non-specified business.
prasad Nilugal
( GST Practitioner & Accounts )
(14221 Points)
Replied 27 June 2023
What is status ? Individual , Firm , Company , LLP or any other .
prasad Nilugal
( GST Practitioner & Accounts )
(14221 Points)
Replied 27 June 2023
prasad Nilugal
( GST Practitioner & Accounts )
(14221 Points)
Replied 27 June 2023
If you are not maintaining the books of accounts neither audit has been done , how one Can say this Profit and Turnover is absolutely correct, further Even if you filing ITR4 , Certain Information like , Sundry Creditors, Sundry Debtors, Stock, Cash in hand , Bank are mandatory fields , So in my opinion you maintain the books of accounts and should be maintain right from the beginning to understand business position .
CAclubindia
