Are you maintaining Books of accounts to disclose proper Income for Income Tax purpose?
you are filing your income tax return and declaring a certain amount as income , just think that you have received a notice from income tax department to prove your income, how will you prove that you have declared your true income? are you maintaining books of accounts and keeping record of the income and expenditure, if yes , very good but what if you are not maintaining,can Income tax department force you to maintain books of accounts or can department may penalize you for not keeping record?
Just join me here to know what is required and what is not required , I am going to discuss the provisions relating to maintenance of books of Accounts.