44AD
This query is : Resolved
12 April 2017
Is it compulsory for the a assessee to maintain books of accounts if he files his return u/s44ad.?
12 April 2017
Return u/s 44AD is filed under no books case hence no requirement to maintain books of account.
12 April 2017
If your business is covered under section 44AD and you do not offer for taxation 8% of turnover / receipts in cash and / or 6% of turnover / receipts in banking channels and your income is above tax limit, then only you need to maintain books and get them audited.
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