banner_ad

Sec 44A

This query is : Resolved 
Profile Image

Profile Image

(Querist)
26 March 2011 Dear Friends,

CASE : A Individual is carrying a proprietory business and income from such business is less than Rs 120000 and gross receipts is less than Rs 10 Lakh. However he is partner in a firm and gets interest on capital & salary from that firm.

Now my QUESTION is that since his income from proprietory business is less than limits specified for maintainence of books of accounts(however his total income is more than exemption limit),IS IT MANDATORY FOR HIM TO MAINTAIN BOOKS OF A/C U/S 44A?

Your contribution will be appreciated
Profile Image

shrikant

Profile Image

shrikant (Expert)
27 March 2011 No, as Section 44A & other section are different, hence sec 44A talk about only receipt from particular source of income. Hence your client not require to maintain books of account relating income of 44A.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
29 May 2026
Accounts assistant

Shubh Consultancy

Mumbai

Graduate (Any)

View Details
Company
26 May 2026
Senior Accountant cum purchase Manager

Vardhaman Group of India

Pimpri Chinchwad

CA Inter

View Details
Company
06 May 2026
Account Assistant / Article Clerk

V.K. Ranjan & Co(Chartered Accountants)

New Delhi

B.Com

View Details
Company
ARTICLESHIP 15 May 2026
Audit Assistant / Article Trainee / Intern

SSGS and Associates

Chennai

CA Inter

View Details
Company
19 May 2026
Article, CA & Paid Assistant Positions

Aggarwal Sarawagi and Co

New Delhi

CA

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
22 May 2026
U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details
Company
29 May 2026
Company Secretary - Part time

Shaswat initial support private limited

Ahmedabad

CS

View Details