Confused Submission of I T Return

Yes. However,  in case the books are not maintained and the business income is being returned in accordance with the deeming/presumptive provisions like 44AD, 44AE or 44AF then the B.Sheet is not necessary.

Hi

You are no longer required to submit any documents along with your Income-tax return. But still you need to timely finalize your books, as they act as a base on which your income and tax liability will be assessed.

If you are not required to prepare your accounts u/s 44AA, even then an appropriate and reasonable estimate of your receivables, payables, cash-in-hand, investments, income & expenes is required to be prepared as on 31-3-2XXXX.

This is a prerequisite before preparing & filing your income-tax return

the basic books of accounts must be kept.