Hi Everyone,
As we do not need to maintain books of accounts for 44AD cases, what other documents are must to file ITR under 44AD cases. Not just for filing, in case of scrutiny, do we need to produce purchase, sales and expenses bills even if the business turnover is less than 30 lakhs?
Thanks so much. So, other than bank statements, nothing else is required for 44AD cases. Thanks for your confirmation.
Out of curiosity I am asking this, is there any Section under Income Tax Act explicitly stating that only bank statements are sufficient for 44AD cases?
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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