Sec 44ad

giri gattupalli (Querist) 27 September 2012 This query is : Resolved
respected sir,

declaration of income under sec44ad (under income tax 1961) can provides immunity to a person from liability to produce books and explaining cash deposits in bank accounts ,in the instance of scrutiny
by department.

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Sanjeev (Expert) 27 September 2012
it would provide exemption from providing books of accounts but still explanation may be asked for the cash deposits sources

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