31 August 2012
I m not saying 44AA over ruled 44AD. I m saying the opposite of the above line that Sec 44AD overruled the Sec 44AA.Because let Say in Financial Year 2011-12 my Gross Sales is Rs.5000000/-. And According to Sec.44AA i have to maintain the books of Account. But If i apply Sec44AD and declare my profit at 8% of Sales, then i think there is no need to maintain books. So i think Sec44AD overruled the Sec44AA.