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.
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