if an assessee opt for 44ADA Presumptive taxation but as per section 44AA he is required to maintain books of accounts.
but he opted for Section 44ADA,Do he still need to maintain books of accounts and need to show BS and PL in ITR ?
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44AA and 44ADA
Replies (3)
Quick Summary
No if is opting 44ADA then he is not required to keep books of accounts under section 44AA
Not required to maintain books
Yes I agreed the above said replies.
But, keep details of the income source which is You will declare.
In case it's lesser value then questionable.
But, keep details of the income source which is You will declare.
In case it's lesser value then questionable.
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