Scrutiny under 44ad on sundry creditors
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 February 2018
UNDER 44AD, INCOME TAX IS ASKING FOR SUNDRY CREDITORS . SINCE NO BOOKS ARE REQUIRED TO BE MAINTAINED UNDER THIS , WHAT IS THE SCOPE OF THIS SUNDRY CREDITORS DECLARATION FROM SCRUTINY POINT OF VIEW ?
01 March 2018
Even if no books of accounts are maintained, for your business payments and receipts for your own requirements you need to know on any date details of your debtors and creditors. You can't say I have no details. You may maintain the details in rough form also.
For the purpose of scrutiny turnover and debtor and creditors amounts are required for comparison purposes.
For the purpose of scrutiny turnover and debtor and creditors amounts are required for comparison purposes.
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