if a professional is declaring income under section 44ada and declaring income of 50 percent .
is he required to maintain books of accounts ?
he is covered under clause of 44AA(i) but at the same time declaring income as per presumptive scheme
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section 44aa
Replies (2)
No books of account required to be maintained.
That's the reason to bring in 44ADA by the Government
That's the reason to bring in 44ADA by the Government
Assessee opted for PRESUMPTIVE TAXATION SCHEME u/s 44AD, 44ADA and 44AE are not required to comply with the Provision of Section 44AA ( Maintaining Books of Accounts ) and 44AB ( Tax Audit ).
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