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Income Tax sec 44ada
For which year are we required to maintain books of account
Replies (7)
If Assessee will be file u/s 44ADA then no need regular books of accounts...
I mean when he claims lower income
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...
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?
Does he need to maintain books forever from the year in which he claims lower income?
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.
Dear.,
Ask with details athen you can get exact solution from our CCI experts.
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
| 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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