Books maintenance law 44ab

This discussion clarifies the rules around maintaining business books of accounts for companies with a turnover around the GST threshold. Even if covered by presumptive taxation under the Income Tax Act (like Section 44AD), businesses registered under GST are generally required to maintain their books for at least six years. This is separate from Income Tax requirements under Section 44AA, which also mandates book maintenance if turnover exceeds certain limits or gross income is above a specific figure.