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44AA

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13 September 2017 Dear sir/ madam, Plz explain the following sentence.. "The total income exceeds maximum amount not chargeable to tax" Read more at: https://www.caclubindia.com/articles/44ada-special-provision-for-computing-profits-and-gains-of-profession--31120.asp

13 September 2017 maximum amount not chargeable for tax is Rs 2.5 Lakhs ...anything above that is taxable...

13 September 2017 If total income exceeds 250000 we should keep books of account and audit from chartered accountant?




16 September 2017 please read the section in entirety. for audit, refer 44AB. 44AA doesn't prescribe conditions for audit.



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