Rajat (Student) (52 Points)
29 July 2022Most of the times clients who are under 44AD (PTS) expect a proper balance sheet and P/L for the year because -
1. They prefer having one
2. Banks want a proper BSPL
When a client is not required to maintain proper books of accounts, why should a proper set of BSPL be made and provided?
What is your opinion and what do you do in such cases?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160579 Points)
Replied 29 July 2022
Even if books are not required to maintain in IT act (PTS) but full details are required to be maintain for GST.
In 90% of such cases, books are maintained, and BS & P&L acc are prepared for loans from bank or other requirements.
Only thing is ITD cannot ask for its scrutiny!!!
CAclubindia
