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Income Tax sec 44ada

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57 Points Posted on 23 November 2018
For which year are we required to maintain books of account
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On 23 November 2018 at 21:01 Report
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128152 Points Posted on 24 November 2018
If Assessee will be file u/s 44ADA then no need regular books of accounts...
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On 24 November 2018 at 05:28
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57 Points Posted on 24 November 2018
I mean when he claims lower income
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On 24 November 2018 at 08:01
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"Do the Right Thing...!!!"
128152 Points Posted on 24 November 2018
Assessee will show less than the limit as per sec 44ADA then he will file normal provisions u/s 44AA.. It's better to future compliance...
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On 24 November 2018 at 08:04
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57 Points Posted on 24 November 2018
Suppose he claims lower income in P.Y.2017-18 then for which P.Y. would he need to maintain books?
Does he need to maintain books forever from the year in which he claims lower income?
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On 24 November 2018 at 08:43
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"Do the Right Thing...!!!"
128152 Points Posted on 24 November 2018
If the Assessee claim lower income in PY then he must maintain books of accounts from PY...


Dear.,
Ask with details athen you can get exact solution from our CCI experts.
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On 24 November 2018 at 08:46
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57 Points Posted on 24 November 2018
thanks for clarifying just one more query, assessee comes to know his income is less than 6% at the end of the year now how would he maintain books for that p.y. year as year had already passed
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On 24 November 2018 at 08:58
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Fellow CA
86881 Points Posted on 24 November 2018
Originally posted by : Raph Ael
thanks for clarifying just one more query, assessee comes to know his income is less than 6% at the end of the year now how would he maintain books for that p.y. year as year had already passed

tell me one thing. How did he come to know that income is below 6%?  if he knows that the profit is below 6%, then he already knows the incomes and expenses. Just need to account for both!

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On 24 November 2018 at 12:58


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