Regarding 44aa

asheeq ua (ca ipcc) (313 Points)

23 December 2018

One of my client Turnover is 3.5 lakh and net income is 2.3 lakh should he maintain books of account U/s 44AA ?

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4 Replies

MOHAMMED IMRAN (1020 Points)
Replied 23 December 2018

if assessee is individual or HUF then NOT required to maintain books of account u/s 44AA

otherwise he is required to maintain boos of account

2 Like

saurabh sawlani (2158 Points)
Replied 23 December 2018

Under section 44 AA of the Income tax act 2017 your profit is more than 2.5 lacs or turnover exceeds 25 lacs you have to maintain books of accounts .

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Vansh Bharti (17 Points)
Replied 23 December 2018

No need to maintain books of accounts in your case

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asheeq ua (ca ipcc) (313 Points)
Replied 24 December 2018

Thank you all

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