Section 44AA(1) of Income Tax provides that Every person carrying on …. shall keep and maintain such books of account…
Part A-BS of ITR-4 is BALANCE SHEET AS ON 31ST DAY OF MARCH……. OF THE PROPRIETORY BUSINESS (fill items 1 to 5 in a case where regular books of accounts are maintained, otherwise fill item 6)
Similarly,
Part A-P& L of ITR-4 is - Profit and Loss Account for the previous year...the proprietary business (fill items 1 to 50 in a case where regular books of accounts are maintained, otherwise fill item 51)
Specific queries are
a) the difference between the terms “books of account” used in Section 44AA and “Regular books of accounts” in ITR-4;
b) which term is correct " Books of Account" used in n Section 44AA or " Books of Accounts" used in ITR-4.
