Requirement sec 44aa of income tax act ??
This query is : Resolved
27 February 2014
Hello Experts,
An Architects (Sole Properietor)Gross Receipts during the FY is Rs 9Lacs ;My query is that whether he is liable to maintain Books of Accounts u/s 44AA ?
Pls explain me in Details.
Thank You.
An Architects (Sole Properietor)Gross Receipts during the FY is Rs 9Lacs ;My query is that whether he is liable to maintain Books of Accounts u/s 44AA ?
Pls explain me in Details.
Thank You.
27 February 2014
it is compulsory to architects to maintain books of accounts irrespective of turnover. refer section 44AA(1)
27 February 2014
So i don't need to worry about Rs 1.5Lacs limit na ?
27 February 2014
no..that is only for 44AA(2). professionals are covered under 44AA(1) itself.
27 February 2014
Thank You Nikhil..Great !!!
27 February 2014
you are welcome Abhishek
28 February 2014
Hello Nikhil..
An Architect opt for Sec 44AD..then why is mandatory maintenance of Books of A/c as per Sec 44AA..coz Sec 44AD does not mandate it.
Pls reply !!!
An Architect opt for Sec 44AD..then why is mandatory maintenance of Books of A/c as per Sec 44AA..coz Sec 44AD does not mandate it.
Pls reply !!!
28 February 2014
Dear Abhishek,
please read section 44. it doesnt permit use of its provisions for professionals.
please read section 44. it doesnt permit use of its provisions for professionals.
28 February 2014
Section 44AD clearly provides that it is NOT applicable to PROFESSIONALS.
An architect is a specified professional. Accordingly he CANNOT claim benefit of Section 44AD.
An architect is a specified professional. Accordingly he CANNOT claim benefit of Section 44AD.
03 March 2014
since architect is specified professional he is not allowed to invoke sec 44AD
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