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Sec 44AA Applicability for Pvt Ltd company

Deepti (Service) (38 Points)

05 August 2008

Please advise if Section 44AA is applicable for private limited company providing networking services

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11 Replies

CA Navin Jain (MANAGER (FINANCE & ACCOUNTS)) (11768 Points)
Replied 05 August 2008

Originally posted by :Deepti
"	Please advise if Section 44AA is applicable for private limited company providing networking services	"

MAINTENANCE OF BOOKS OF ACCOUNTS

SEC 44AA(b) is applicable if following condition is satisfied

1. total income is exceeds rs. 120000 or

2. total receipt exceeds rs. 1000000

in any of the three years preceding to the relevant previos year.

Thanks & Regards

Navin JAIN

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CA Navin Jain (MANAGER (FINANCE & ACCOUNTS)) (11768 Points)
Replied 05 August 2008

Originally posted by :Deepti
"	Please advise if Section 44AA is applicable for private limited company providing networking services	"

MAINTENANCE OF BOOKS OF ACCOUNTS

SEC 44AA(b) is applicable if following condition is satisfied

1. total income is exceeds rs. 120000 or

2. total receipt exceeds rs. 1000000

in any of the three years preceding to the relevant previos year.

Thanks & Regards

Navin JAIN

Deepti (Service) (38 Points)
Replied 05 August 2008

Thanku Navin,

But my question relates to whether the provisions of Sec 44AA is applicable for a private limited company if the criteria's as mentioned above are met.

(Guest)

Originally posted by :Deepti

Thanku Navin,

But my question relates to whether the provisions of Sec 44AA is applicable for a private limited company if the criteria's as mentioned above are met.

hi deepti

provisions of sec 44AA whether or not it is a private company provided the requisite conditions are satisfied.morever 209 of the companies act makes it manadatory for every company to maintain books of accounts

hope it has helped u

(Guest)

Originally posted by :Deepti
"		"

HI DEEPTI

Provisions of sec 44AA is applicable whether or not it is a private company provided the requisite conditions prescribed in the provisions of sec 44AA are satisfied.Moreover sec 209 of the companies Act makes it mandatory to maintains books of accounts

thank u

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CA.Neeraj Gupta (Service) (36 Points)
Replied 07 August 2008

Hi............

Sec 44AA is applicable for private limited company also providing networking services but it should be applicable only if it is satisfying condition which is giving in Sec 44AA.

CA RAMESH KUMAR AHUJA (CA, DISA, LLB) (5452 Points)
Replied 07 August 2008

I do agree with the views expressed as above. A private limited co has to maintain the books of accounts as per section 209 of the Co. Act and 44AA of I.Tax Act

SHASHI SHANKAR SHARMA (Students) (47 Points)
Replied 17 July 2012

Dear All,

Please tell me Sec-44 aa apllicable on Partnership Frm execuiting business of Dealership in Automobile industry?

rahul (CA-Articles) (26 Points)
Replied 18 October 2017

Hi,
whether a company is bound to select yes in the option "applicability of Sec 44AA" regardless of threshold, since it is mandatory for a company to maintain books of accounts under companies act