Section 44aa of the income tax act
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 May 2018
Sir
As per the amendment in Finance act 2017 w.e.f 1/4/2018 income form business & profession should 250000/- (two lac fifty thousand ) or total sale should be 2500000/- (twenty five lacs ) in any one of the three years immediately preceding the previous year for maintenance of books of accounts and other documents as per section 44AA of the income tax act .
IS this correct ?.
As per the amendment in Finance act 2017 w.e.f 1/4/2018 income form business & profession should 250000/- (two lac fifty thousand ) or total sale should be 2500000/- (twenty five lacs ) in any one of the three years immediately preceding the previous year for maintenance of books of accounts and other documents as per section 44AA of the income tax act .
IS this correct ?.
01 May 2018
Yes amended vide clause 19 of Finance Act,2017.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Taxable or Tax exempt
- CAPITAL GAIN BASE ON NOTIFICATION
- TDS Deducted AY-2013-14 Not Reflected in 26as
- Demand Outstanding AY 2013-14 TDS Deducted not shown in 26as
- ADVANCE PAYMENT OF ADVOCATE
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Eway bill not cancelled within 24 hous what can be due
- TDS Return Q1 FY 2026-27
- Goods sold but invoice not issued
- GST rate and HSN code for sale of racing horses
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
