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conflicts between 44AA AND 44AD/E/F

This query is : Resolved 
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(Querist)
31 October 2008 IN 44AA ITS MENTIONED THAT BOOKS OF ACCOUNTS ARE REQUIRED TO BE MENTIONED FOR NON PROFESSINALS IF SALES EXCEEDS 1000000/- IN ANY OF 3 PRECEEDING FINANCIAL YEARS.

IN 44AF(RETAIL TRADE) IF WE PRESUME TAX AT RATE OF 5% THAN WE ARE NOT REQUIRED TO MAINTAIN BOOKS OF ACCOUNTS

NOW SUPPOSE Mr. X IS ENGAGED IN BUSINESS OF RETAIL TRADE AND HAS TURNOVER OF 3000000/- AND AS PER PROVISIONS OF 44AF HE PRESUMES HIS PROFIT AT Rs.150000/-(3000000*5%). SO HE IS NOT REQUIRED TO MAINTAIN BOOKS OF ACCOUNTS U/S 44AF BUT AS PER PROVISIONS OF 44AA HE IS REQUIRED T MAINTAIN AS TURNOVER EXCEEDS Rs.1000000/- !
HERE BOTH PROVISIONS ARE CONFLCTING WHAT SHOULD I DO ?
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
31 October 2008 As per section 44AF(4),in the given situation,provisions of section 44AA is not applicable. Therefore question of conflict does not arise in my opinion.
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CA Nitin Wadhwani

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CA Nitin Wadhwani (Expert)
31 October 2008 Yes. Mr Warrier is Right.
Sec.44AD/E/F - Tax on Presumptive Basis Are Exceptions to Sec.44AA.
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CA. Dashrath Maheshwari

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CA. Dashrath Maheshwari (Expert)
31 October 2008 44AD/E/F prevails on 44AA
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