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44AD Cases - What documents need to be maintained ?

Arunachalam (Proprietor) (186 Points)

15 December 2023

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?

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3 Replies

RAJA P M ("Do the Right Thing...!!!") (127169 Points)
Replied 15 December 2023

No need worry Mr.Arunachalam...

Filing u/s 44ad is not maintained books of Accounts case.
So, No need any documents.

But, If you are feel like any future problems then just keep Your bank statements and any income through Electronic mode...

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Arunachalam (Proprietor) (186 Points)
Replied 15 December 2023

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?