Section 44AA

Not Mandatory...

As regards the maintenance of books of account by a professional, who is engaged in specified profession has to maintain certain prescribed books of account, if the annual receipts from the profession exceed Rs. 1,50,000 in all the three years immediately preceding the previous year (in case of newly set up profession, his annual receipts in the profession for that year are likely to exceed Rs. 1,50,000).

Specified profession covers profession of legal, medical, engineering, architectural, accountancy, company secretary, technical consultancy, interior decoration, authorised representative, film artist or information technology.

The professionals whose gross receipt are less than the specified limit (1,50,000) are also required to maintain books of account but these have not specified in the rule.

they are required to maintain such books of account and other documents as may be enable the assessing officer to compute his total income in accordance with the provision of this act.

Not Mandatory, but Assessee has to Maintain those books which enables the AO to Calculate the total income of Assessee.