An Individual assesse who is resident, having following sources of Income earned in India within a financial year
45 lakhs salary Income
20 lakhs Rent income from property
20 lakhs Dividend Income from mutual funds
5 lakhs interest income Banks & Companies
Is the assessee, liable to maintain books of accounts under section 44-AA of IT Act and get accounts audited
u/s. 44-AB of IT Act, 1961 for assessment year 2011-12
Kindly advice, I shall be very thankful to you
Valerian D'souza
Account Manager
CAclubindia
