Liability to maintain accounts as per section 44AA for intraday traders

Hi,

Am I liable to maintain books of accounts if

I have salary income over the basic exemption limit (say 9 lakhs).
I have intraday turnover of 11000 and gross profit of 10000
My turnovers from speculative or non-sepculative business has not crossed 1.2 lakh in the last three years.
Asking this because wanted to know, if I am not liable to maintain books of accounts as per section 44AA, can I still fill items (1-5)
Part A-BS - BALANCE SHEET AS ON 31ST DAY OF MARCH, 2021 OF THE PROPRIETORY BUSINESS OR PROFESSION (fill items below in a case
where regular books of accounts are maintained, otherwise fill item 6)
or should I fill only item 6.

Thanks,
Saurabh

@Saad_C @Kaushal_Soni @AkashJhaveri @Divya_Singhvi @Laxmi_Navlani can you help with this?

Hey @Saurabh

Every person whose income from business or profession exceeds 2,50,000 or total turnover exceeds 25,00,000 in last three preceding previous years then assessee has to maintain books of accounts u/s 44AA.

As mentioned in your case, you’re not mandatorily require to maintain books of accounts. However, for genuine reporting of incomes under ITR, one can regularly maintain books of accounts.

If books of accounts are not maintained then tax payer can fill details under 'No Account Cases - item 6 ’ of Schedule BS.

Hope, it helps!

Sure @Kaushal_Soni

So, I can select liable to maintain books of accounts as per section 44AA as NO
and still fill the Balance Sheet (items 1-5)where regular book of accounts are maintained.

Also, what exactly does it mean to maintain book of accounts.
I have ledger details from zerodha.
Apart from that I use my computer and internet which I claim as business expense, so just keeping the invoices of these assets is fine, or do we have to use some software like tally etc to maintain the acounts ?

When I used quicko, it filled (items 1-5) in the Balance Sheet.