Maintanace of books of a/c. and itr

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rajat sharma (Querist)
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08 February 2014 in case of DRIVING OWN CAR and if the income is bleow 200000/- per annum ,wheather books are needed to be maintained.

income exceeds 120000/-..............
wheather the above thing is applicable here.

and pls ensure me that ITR-4 is relevant for the above case.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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09 February 2014 As per Section 44AD Books of account are required where you show your taxable income @ less than 8% on the gross receipts.
.
You can file return U/s 44AD in ITR 4S..

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rajat sharma

rajat sharma (Querist)
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09 February 2014 thank you very much sir .

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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09 February 2014 Additionally books of accounts not required to be maintained and no audit is required.

sadashiv Rupchand Gaikwad

sadashiv Rupchand Gaikwad (Expert)
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14 February 2014 for one car, not required to maintain books of accounts.

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