Sec 44aa

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

11 October 2012 can someone tell me that when a person is required to maintain books of accounts u/s 44AA of the income tax act??????

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
Follow

13 October 2012 1. Person carrying on legal, medical, engineering or architectural profession or the profession of accountancy or technical consultancy or interior decoration - mandatory to maintain books of accounts.

2. Persons carrying on any other business or profession - If income exceeds Rs. 1,20,000 or sales/turnover exceeds Rs. 10 lakhs in any one of the three years immediately preceding the previous year.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now