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44aa
A electrican is liable to maintain books of account if his income is 240000 and t/o is 500000
Replies (10)
Yes, unless for presumptive assessment.
Presumptive assessment means
PRESUMPTIVE ASSESSMENT MENAS INCOME SHOW UNDER SEC. 44AD (NO BOOKS OF ACCOUNT MAINTAIN )
Electrician can opt for 44 AD
yess hitesh... electrician should go for 44AD...!
But it is a profession how can it go for 8%
FILE ITR 4
In that in audit information
are you lioable for maintainjng accounts under sec 44AA in that select no or YES
yes you are liable to maintain books since income crossed 120000 even though t/o is below the limit of 1000000
If it is 1St return and ur filling itr 4 or itr 4s then select no. For 44aa .it is better to fill itr 4s
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