Query regarding section 44ad of income tax act, 1961

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WE HAVE SHOWN INCOME U/S 44AD FOR THE AY 2016-17. WE HAVE SHOWN TURNOVER OF RS. 1025100 AND PROFIT IS SHOWN @ 24.03% i.e MORE THAN 8% WHICH IS AS PER THE LIMIT PRESCRIBED U/S 44AD. WE HAVE RECEIVED NOTICE U/S 139(9) OF ITA, 1961 TO FILE BALANCESHEET & P&L ACCOUNT. BUT ACCORDING TO SECTION 44AD THERE IS NO NEED TO MAINTAIN BOOKS OF ACCOUNTS IF THE TURNOVER IS BELOW 1 CRORE AND PROFIT IS SHOWN @ 8% OR ABOVE. SO WHY HAVE WE RECEIVED THIS NOTICE U/S 139(9)?? PLEASE PROVIDE US THE SOLUTION OF ABOVE MENTIONED QUERY.
Replies (2)

Did you use form ITR 4?

Since you have not opted for 44AD by chosing the form ITR4S, section 44AA for maintenance of books is applicable

THANK YOU MAM!!!


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