Are maintance of book of acount mandatory under section 44ad


This query is : Resolved 

(Querist)
30 April 2015 I have read an article which makes me confuse."An Assessee shall be exempted from the maintanence of books of Accounts, If he opts scheme for the section u/s 44AD".

According to me If Audit u/s 44AD is compulsory obviously maintenance of books of Accounts shall be mandatory. Because to audit, Auditor needs records. Plz explain it.

Thanks in advance.

30 April 2015 if one opts for 44AD no books requried but if one claims for lower income then audit is required and in that case books of account is must

Neha Agarwal (Querist)
30 April 2015 If one claim his profit from business is lower than 8%, no books of accounts are required but audit is compulsory??? What is limit for turnover shown in case audit not required ???

30 April 2015 who said no books of account required if one claims lower profit...

if one claims lower profit audit is there, and for audit u need books of accounts dear..!!1

30 April 2015 https://taxguru.in/income-tax/income-tax-provisions-related-to-presumptive-taxation-under-sections-44ad-44ae-and-44af-in-a-brief.html


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