44AA & 44AD

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..... Dear All, As we all know, that maintenance of Books of Accounts u/s 44AA is not required, if a person opts for presumptive taxation u/s 44AD , and a person opting for such scheme may even declar .....

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..... e income greater than the income deemed u/s 44AD (i.e., income greater than deemed 8% of turnover). So in case a person opting for 44AD declares income greater than 8%, is it necessary for him to .....

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..... mantain books of accounts. The law is silent in this regard. However, it is specifically mentioned in sec 44AA that, if a person declares income lower than income deemed u/s 44AD , and his incom .....

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..... e is greater than the minimum taxable limit, than he has to maintain books u/s 44AA. What if the person declares income greater than 8%, which is beyond the minimum taxable limit? Please clari .....

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..... fy. - 44AA & 44AD - Query Started By: - Tushar More Dated:- 4-3-2017 Income Tax - Income Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India .....

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..... - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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