U/s 44aa
This query is : Resolved
11 August 2012
Dear sir,
whether books of account are prescribed u/s 44AA, if yes list of books so prescribed."No" please anybody answer to me ours is a partnership firm and we are maintained computer system accounting and in our audit report in that statement mention "No"
why audit report not mention list of books of accounts if it is require or not
Please tell me
Regards
RAMESHA.M
whether books of account are prescribed u/s 44AA, if yes list of books so prescribed."No" please anybody answer to me ours is a partnership firm and we are maintained computer system accounting and in our audit report in that statement mention "No"
why audit report not mention list of books of accounts if it is require or not
Please tell me
Regards
RAMESHA.M
11 August 2012
For professionals:
(i) a cash book;
(ii) a journal, if the accounts are maintained according to the mercantile system of accounting;
(iii) a ledger;
(iv) carbon copies of bills, whether machine numbered or otherwise serially numbered, wherever such bills are issued by the person, and carbon copies or counterfoils of machine numbered or otherwise serially numbered receipts issued by him
(i) a cash book;
(ii) a journal, if the accounts are maintained according to the mercantile system of accounting;
(iii) a ledger;
(iv) carbon copies of bills, whether machine numbered or otherwise serially numbered, wherever such bills are issued by the person, and carbon copies or counterfoils of machine numbered or otherwise serially numbered receipts issued by him
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11 August 2012
The format of books of account has not mentioned in the act but generally it is required that as per the principals of accounting the books should be maintained as has correctly been mentioned by Siddhartha
11 August 2012
AGREE WITH ABOVE....
11 August 2012
The books of accounts to be maintained are prescribed under Rule 6F of the Income Tax Act.
However, they apply only to professionals and not assessees other than professionals.
However, they apply only to professionals and not assessees other than professionals.
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