Income-tax Act, 1961

Maintenance of accounts by certain persons carrying on profession or business.

44AA. (1) Every person carrying on legal, medical, engineering or architectural profession or the profession of accountancy or technical consultancy or interior decoration or any other profession as is notified by the Board in the Official Gazette shall keep and maintain such books of account and other documents as may enable the Assessing Officer to compute his total income in accordance with the provisions of this Act.

(2) Every person carrying on business or profession [not being a profession referred to in sub-section (1)] shall,-

(i)	-	if his income from business or profession exceeds one lakh twenty thousand rupees or his total sales, turnover or gross receipts, as the case may be, in business or profession exceed or exceeds ten lakh rupees in any one of the three years immediately preceding the previous year; or
(ii)	-	where the business or profession is newly set up in any previous year, if his income from business or profession is likely to exceed one lakh twenty thousand rupees or his total sales, turnover or gross receipts, as the case may be, in business or profession are or is likely to exceed ten lakh rupees, during such previous year; or
Google Play store Latest Job Openings View all ARTICLESHIP 11 July 2026 Article SNCO Mumbai CA Inter View Details ARTICLESHIP 17 July 2026 Article Assistant and B.com pass BANSAL YOGESH AND CO Gautam Budh Nagar B.Com View Details 20 July 2026 Senior GST Executive Chandak Agarwal & Co Mumbai Graduate (Any) View Details Featured 18 July 2026 CA Articleship apricus india Mumbai CA Inter View Details ARTICLESHIP 08 July 2026 Article internship AJAY SINGH AND CO LLP Thane CA Final View Details ARTICLESHIP 07 July 2026 Articleship Jawahar and Associates Chartered Accountants Hyderabad CA Inter View Details 13 July 2026 AVP / VP - PCG Advisory Workforce Connect Mumbai MBA View Details 23 July 2026 Semi qualified CA Garg Bros & Associate CA New Delhi CA Inter View Details Share  Facebook  Twitter  Linkedin  Reddit  Email  Whatsapp  Gmail  Print  PDF Finance and Tax WhatsApp groups list CCI All Updates (WA Group) CCI All Updates (WA Channel) CCI All Updates (Telegram Channel) GST Income Tax CA Final CA Inter CA Foundation CCI Jobs CS CCI Webinars CCI Pro Login at CAclubindia CAclubindia India's largest network for finance professionals User Name Password Remember Me Forgot Password ? Alternatively, you can log in using: Login with Google Don't have an account? Register Now click here to register Follow