Sec 44ad and balance sheet
Querist : Anonymous
i have filed my return of income for ay 2015-16 under sec 44ad and paid tax there on.now the ito sent me notice asking me to produce capital account for verification as a part of limited scrutiny. in my opinion as a have filed my return under sec 44ad , i need not to maitain profit and loss a/c and other financial statements which form part of books of accounts under sec 44aa.please discuss .
Read the notice carefully. And if you are satisfied that it is concerned with the return you have filed, write back giving the reference of section 44AD
Querist : Anonymous
Just one liner reply.....my return is filed u/s 44AD. Please confirm the next course of action from my end. Thanking you
That's all
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