44ad or 44ab
This query is : Resolved
24 August 2019
A partnership firm has a turnover of Rs 2.50 Crores during FY 2018-19. They wish to opt for filing return U/s 44AD. What books / documents they have to keep ready for Audit?
CA R SEETHARAMAN
(Expert)
25 August 2019
Turnover above 2 crore 44AD can't be opted tax audit applicable. Books of accounts like day book, journal. ledger, vouchers, tax invoices for purchases, bank statements and tax compliance returns.
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