Query relating to sec 44aa & 44ad
This query is : Resolved
31 August 2012
Dear,
I want to ask that whether Sec 44AD overruled the Sec 44AA ?
I want to ask that whether Sec 44AD overruled the Sec 44AA ?
31 August 2012
No, These Both Section are Different, You Should Read Both Separately.
As Per Sec 44AA, U Need to Maintain Books of Accounts if Crossed the Limit as Specified.
& in 44AD Its Talking Only For Audit Books of Accounts.
So Conclusion is in UR Language 44AA Overruled 44AD.
As Per Sec 44AA, U Need to Maintain Books of Accounts if Crossed the Limit as Specified.
& in 44AD Its Talking Only For Audit Books of Accounts.
So Conclusion is in UR Language 44AA Overruled 44AD.
31 August 2012
I m not saying 44AA over ruled 44AD.
I m saying the opposite of the above line that Sec 44AD overruled the Sec 44AA.Because
let Say in Financial Year 2011-12 my Gross Sales is Rs.5000000/-. And According to Sec.44AA i have to maintain the books of Account. But If i apply Sec44AD and declare my profit at 8% of Sales, then i think there is no need to maintain books. So i think Sec44AD overruled the Sec44AA.
I m saying the opposite of the above line that Sec 44AD overruled the Sec 44AA.Because
let Say in Financial Year 2011-12 my Gross Sales is Rs.5000000/-. And According to Sec.44AA i have to maintain the books of Account. But If i apply Sec44AD and declare my profit at 8% of Sales, then i think there is no need to maintain books. So i think Sec44AD overruled the Sec44AA.
31 August 2012
Yes, Thats Only I am Saying Na Harish...
That 44AA Overruled 44Ad, Not As Said By U.
That 44AA Overruled 44Ad, Not As Said By U.
31 August 2012
44AD is overruling 44AA , Isnt it ?
31 August 2012
Though U need not to Maintain BoA as Per 44AD if U Pay 8% Profit, But U are Overwhelming 44AA, So in That Case U need to Maintain BoA.
Generally Those Person Who Take 8% Benefit as per 44AD, Also Keep BoA, Though They are Showing 8 % Profit.
BoA - Boooks of Accounts
Generally Those Person Who Take 8% Benefit as per 44AD, Also Keep BoA, Though They are Showing 8 % Profit.
BoA - Boooks of Accounts
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