Cash fiow statement - sec44ad -sec 44aa-

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

20 January 2016 respected sir,
i have filed my return of income for ay 2014-15 under sec-44ad.and now , notice served upon me in respect of bank deposits made during ay 2014-15,.the AO asked me to produce cash-flow state ment for perticular year.
up to my knowldge ,as i have filed my return under sec-44ad ,i need not to maitain books of occounts under sec -44aa.please some one clarify that , whether cash flow statement forms part of books of occount or not.thanks in advance.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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20 January 2016 even if you have filed 44AD, you still need to substantiate your turnover. So cash flow can be asked for

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)
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20 January 2016 Definitely, in order to know your turnover they may ask your bank statement to know inflow, turnover declared u/s 44AD should be justify with your in flow.

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