U/s 44aa

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Ramesha.M (Querist)
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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

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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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

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C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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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

CA PRAVEEN SINGH

CA PRAVEEN SINGH (Expert)
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11 August 2012 AGREE WITH ABOVE....

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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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.

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