44AD

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RAMESH D MODI

RAMESH D MODI (Querist)
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12 April 2017 Is it compulsory for the a assessee to maintain books of accounts if he files his return u/s44ad.?

CS Advocate Abhishek Goyal

CS Advocate Abhishek Goyal (Expert)
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12 April 2017 Return u/s 44AD is filed under no books case hence no requirement to maintain books of account.

Sunil

Sunil (Expert)
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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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