44 ad and 44 aa
This query is : Resolved
22 February 2017
Dear SIR/MAM
i having a confusion about conflict under section 44 AD and 44 AA. Under 44 AD, a person whose turnover is less than 2 CR can opt 44AD and not liable to maintain accounts but under 44AA, A person having turnover more than 25 lacks is liable to maintain accounts.
Kindly clarify the same.
Thanks& Regards
Nikhil Gupta
i having a confusion about conflict under section 44 AD and 44 AA. Under 44 AD, a person whose turnover is less than 2 CR can opt 44AD and not liable to maintain accounts but under 44AA, A person having turnover more than 25 lacks is liable to maintain accounts.
Kindly clarify the same.
Thanks& Regards
Nikhil Gupta
22 February 2017
Those who opt for 44AD need not maintain accounts up to 2 crore turnover. Those who don't opt 44AD has to maintain accounts if turnover exceeds 25 lacs.
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