Pgbp sec44aa

The doubt you asked is about provision for Maintenance of Books of accounts for Non-Specified professionals. The provision is: 1) If business or profession is not newly set up then Assessee shall maintain books of account if Income from such business or Profession exceeds Rs.1,20,000 in any one of three preceeding previous years or Gross receipts from such business or profession exceeds Rs.10,00,000 in any one of three preceeding previous years. 2) If business or profession is newly set up then Assessee shall maintain books of account if Income from such business or profession is likely to exceed Rs.1,20,000 or Gross receipts exceeds Rs.10,00,000. Therefore you have to consider Previous year wise but no together. Note. If business is not newly set up and Turnover or profit does not exceed amount as specified above during in any one of preceeding previous years then even though your profit or Gross receipts are likely to exceed such prescribed amount during current year then Assessee need not to Maintain books of account u/s.44AA.