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

Liable to maintain books of account u/s 44aa?


DEAR SIR I AM A JOB WORKER AND MY GROSS RECEIPT IS 21 00000 AND NET PROFIT I SHOWED 432000 AS I SHOWED MY INCOME ABOVE 8 IN ITR 3 NEW AND I DO NOT MAINTAIN BOOKS OF ACCOUNT BUT AT THE TIME OF FILLING OF MY INCOME TAX RETURN THE BELOW MENTIONED ERROR IS APPEARING You are liable to maintain books of a

Notice u/s 139(9) defective return receved with section 44aa


i uploaded my itr 4 for the AY 2016 17 as belated return I filled in sheet PART A Profit Loss in under the column where regular books of accounts not maintained I showed Gross receipt Rs 605880 Gross profit Rs 605880 Expenses 328715 lastly net profit comes out Rs 277165 which is not taxable as per s

section 44AA


dear sir When section 44AA will applicable and if tax payer applicable under section 44AA he can show his business profit under section 44AD

Applicability of section 44aa on medical professional.


Sir my query is that if a doctor give service to an organisation and not directly to patient would be regarded as a medical professional or a consultancy service agent Further he also received a fixed payment every month from the organisation and on which TDS u s 194J is deducted Please if possible

Section 44aa(1) applicability


Sir our client is running a dance academy whether they fall under the category of other person covered under section 44aa 1 if so is it compulsory for them to keep books of accounts if it do not exceed Rs 1000000 Please Reply

Discussion

44aa and 44ad

what are non specified business and profession and difference between 44 aa and 44ad

U/s 44aa

I provided legal services during f y 2015 16 my gross receipt was 1900000 is it mandatory to maintenance book of account i didn t maintenance book of account

U/s 44aa

I provided legal services during f y 2015 16 my gross receipt was 1900000 is it mandatory to maintenance book of account i didn t maintenance book of account

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

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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 : 8/12/2017 7:31:09 PM


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