Menu
Regarding 44aa
One of my client Turnover is 3.5 lakh and net income is 2.3 lakh should he maintain books of account U/s 44AA ?
Replies (4)
if assessee is individual or HUF then NOT required to maintain books of account u/s 44AA
otherwise he is required to maintain boos of account
otherwise he is required to maintain boos of account
Under section 44 AA of the Income tax act 2017 your profit is more than 2.5 lacs or turnover exceeds 25 lacs you have to maintain books of accounts .
No need to maintain books of accounts in your case
Thank you all
Recent Topic
- INCOME RECEIVED FROM COMPANY FOR ELECTRIC POLLS
- ITR Processing By CPC Now Super Fast - Much apprec
- Abroad Jobs
- Professional Income in 44AD
- Presumptive taxation
- Claiming Pre Possession Home Loan Interest
- Tax on Pension from EPFO
- Indexation of Sale of Property under New Regime
- TDS ON RENT BY TENANT
- Forward tax charge gst related
Related Topics
CAclubindia
