Dear Sir,
Plz Solve my Query...
If small traders turn over below under 10 lacs Inocme Tax Return filled u/s 44AD in A.Y 2015-16 and A.Y 2016-17 of Rs. 250000 and 260000 respectively and books of a/c are not maitain in above mentioned year.
In that case-
1. In A.Y 2017-18 Turnover below Rs. 10 lacs therfore Books a/c are maintain compulsory u/s 44AA ?
2. In the case considered in violation of this Section 44AA above A.Y 2015-16 and 2016-17 and IT department Penelized Rs. 25000 u/s 271A?
please sir solve my Query.
Thanking You
CAclubindia
