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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
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