maintainance of books of account us 44 aa
This query is : Resolved
26 September 2009
one of our client has following income.
income from salary 124711/-
salary from partnership firm 24000/-
lic commission income 97573/-
share of profit from firm 30030/-
My question is whether he is required to maintain books of account compulsory or not?
income from salary 124711/-
salary from partnership firm 24000/-
lic commission income 97573/-
share of profit from firm 30030/-
My question is whether he is required to maintain books of account compulsory or not?
26 September 2009
Maintenance of books is not required as per section 44aa of the act.
26 September 2009
No he is not required to maintain books of accounts as his income from business does not exceeds Rs. 120000/- in the year.
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