Keeping books of accounts
This query is : Resolved
Kedar Shukla
(Querist)
02 February 2012
if a LIC agent earn commission Rs. 250000/- and shows his gross total income Rs. 200000/-. is it necessary to keep books of account for him under income tax act, 1961?
CA PARAS BAFNA
(Expert)
02 February 2012
As per Section 44AA, he is required to maintain books of account.
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