44AA

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Threshold limit increased for maintenance of books of accounts of Individuals and HUF


Increasing the threshold limit for maintenance of books of accounts in case of Individuals and Hindu undivided family The existing provisions of clause i and clause ii of sub section 2 of section 44AA of the Act cast an obligation on every person carrying on business or profession other than those m

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Experts Opinions

Section 44aa - maintenance of books of accounts.


A male assessee who is aged about 77 years and he is Advocate by profession and doing only Chamber works His annual income by way of Advocate Profession is less than Rs 80 000 It is not the constant income which will be earned every year He has income by way of pension which is constant to an extent

Profession of accountancy u/s 44aa


What is the meaning of the term person carrying on profession of accountancy as mentioned u s 44AA Whether a Chartered Accountant NOT holding COP can be treated as person carrying on profession of accountancy Please help

I am liable to maintain accounts as per 44aa?


Dear All I am working as an accountant in a partnership firm and I have Rs 260000 salary income per annum And also I am working as a Tax Practitioner and receives approx Rs 150000 as professional income per annum My doubt is I am liable to maintain accounts as per 44AA

44AA


Gross professional fees Receipt turnover Rs 1 37 000 in F y 15 16 in above case I have to maintain books of account

Maintenance of books of accounts u/s 44aa


Does a person engaged in home tuition required to maintain books of account u s 44aa Please suggest and thanks

Discussion

44aa

A electrican is liable to maintain books of account if his income is 240000 and t o is 500000

Section 44aa

Dear Respected Members PLEASE TELL IF A PERSON WHO IS YARN BROKER THE NATURE OF HIS BUSINESS IS THAT HE SOLD THE YARN OF MANUFACTURER TO TRADER ON CREDIT BASE MANUFACTURER SENDS YARN TO TRADER AND BILLS MAKE IN THE NAME OF TRADER WHEN TRADERS MADE PAYMENT TO MANUFACTURER THE MANUFACTURERS GIVES ONE

Maintaining books of account under section 44aa

Dear Members We are a partnership firm running a business centre and co working space Our gross turnover for the financial year 2016 17 is about 7 00 000 We have incurred a loss of about Rs 50 000 The previous year turnover was around Rs 3 50 000 Considering this scenario please advice on the follow

Technical consultany - section 44aa

Hi Section 44AA specifies Technical consultancy as profession Is there any detailed explanation in income tax rules or some case law mentioning what is technical consultancy Please advice Regards

Sec 44ad & 44aa

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 declare income greater than the income deemed u s 44AD i e income greater than deemed 8 of turnover So in case a pers

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Some lights on sec 44AA, 44AB, 44AD


44AA MAINTENANCE OF BOOKS OF ACCOUNTS WHO SHOULD MAINTAIN a If a person carrying on business profession and income from such business profession has exceeded 1 20 000 in any of the three p y or current p y for newly set up business b If turnover gross receipts has exceeded Rs 10 lacks in any of the


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Updated on : 4/25/2017 8:02:10 PM


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