Discussion

AS SEC.209  OF  THE  COMPANIES  ACT, 1956,  IT  IS  MANDATORY TO MAINTAIN  BOOKS  OF  ACCOUNTS..........................

as per income tax books of accounts are required to be prepared u/s 44aa for professionals and assesse having turnover of more then 10 lakhs.

if any assessee have return file u/s 44ad, it is not compulsory maintain books of accounts. but shown profit less than 8%, than Mandatory is required books of accounts..

thanks