“ FROM A.Y 2014-2015 ON-WARDS, GROSS TUTION INCOME ( NOT APPLICABLE FOR IRREGULAR BASIS ) IF CROSS OF RS 1,20,000/= , THEN IT MAY BE MANDATORY TO MAINTAIN COMPULSORY BOOKS OF A/CS FOR NON SPECIFIED PROFESSION U/S 44AA , FAILURE OF WHICH MAY ATTRACT PENALTY OF RS. 25,000/= U/S 271A “….
“ DON’T TRY TO VIOLATE SEC 44AA, OTHERWISE - BE READY TO PAY RS 25,000/=
SEC. 271A “.
FROM A.Y 2014-2015 ON WARDS, DURING ASSESSMENT , ITO/ASSESSING OFFICER CAN DEMAND ( IF THINKS NECESSARY ) BOOKS OF ACCOUNTS AT ANY POINT OF TIME , IF GROSS INCOME EXCEEDS OF RS. 1,20, 000/=
NEW DELHI: Inaugurating the annual conference of chief commissioners and director generals of income tax, Finance minister P Chidambaram has told all income tax officials to keep a close watch on those -- not filing tax returns and non maintenance of books of a/cs also…..
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