44ad
This query is : Resolved
K Rajendra Prasad
(Querist)
21 July 2013
Why Section 44AD is not applicable for Companies. What is the logic in exclusion of applicability of Sec 44AD to Companies.
Akriti Bhatia
(Expert)
22 July 2013
Greetings
Dear Mr. Prasad
Section 44AD was made for small businessmen because preparing books of accounts is a very costly procedure. So department gave a relaxation to them in this regard. But Companies are not small businesses and also they are governed by companies act. Hence it was mandatory for them to make books of accounts.
Regards
CA Akriti Bhatia
Dear Mr. Prasad
Section 44AD was made for small businessmen because preparing books of accounts is a very costly procedure. So department gave a relaxation to them in this regard. But Companies are not small businesses and also they are governed by companies act. Hence it was mandatory for them to make books of accounts.
Regards
CA Akriti Bhatia
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