Section 44aa of income tax act 1961

First let’s see given below statutory provisions of Section 44AA, 44AB & Section 44 AD of Income Tax Act what they actually said. Section 44AD. To reduce the tax burden and to provide relief from tedious work to small tax Assessees, the government of India has incorporated a scheme of presumptive taxation. Section 44AA of Income-Tax Act, Section 44AA of Income-Tax Act, deals with Maintenance of accounts by certain persons carrying on profession or business. Nov 29,  · Section 44AA of Income Tax Act Provided further that in the case of a person being an individual or a Hindu undivided family, the provisions of clause (i) and clause (ii) shall have effect, as if for the words “ten lakh rupees”, the words “twenty-five .

Section 44aa of income tax act 1961

Apr 25,  · Sec 44AA & 44AB & 44AD of Income Tax Act, Sec 44AA: Maintenance Of Accounts By Certain Persons Carrying On Business Or Profession. Prescribed Books1: –In case of Specified Profession2 if Gross Receipts exceed Rs/- in all . First let’s see given below statutory provisions of Section 44AA, 44AB & Section 44 AD of Income Tax Act what they actually said. Section 44AD. To reduce the tax burden and to provide relief from tedious work to small tax Assessees, the government of India has incorporated a scheme of presumptive taxation. Section 44AA of Income-Tax Act, Section 44AA of Income-Tax Act, deals with Maintenance of accounts by certain persons carrying on profession or business. Section - 44AA, Income-tax Act, - 64[Maintenance of accounts by certain persons carrying on profession or business. 65 44AA. (1) Every person carrying on legal, medical, engineering or architec- tural profession or the. profession of accountancy or technical consultancy or interior decoration or any other profession as is. Jun 14,  · Section 44AA of Income Tax Act The Income from the business of profession exceeds rs (or) the turnover gross receipts exceed in any of previous 3 years (Till the Financial year ).Author: Hareesh Ch. Jul 21,  · Ø The eligible assessee is under an obligation to maintain such books of account and other documents as required under subsection (2) of section 44AA and get them audited and furnish a report of such audit as required under section 44AB, if claims that his profits and gains from the eligible business are lower than the profits and gains specified under subsection (1) of this section and his income Author: JITENDRA. Nov 29,  · Section 44AA of Income Tax Act Provided further that in the case of a person being an individual or a Hindu undivided family, the provisions of clause (i) and clause (ii) shall have effect, as if for the words “ten lakh rupees”, the words “twenty-five .Section 44aa of income tax act: Maintenance of accounts by certain Books of Accounts for Income Tax, Section – 44AA, Income-tax Act, Do you want to know about maintenance of books of accounts u/s 44AA of the Income Tax Act ? Click here to get the knowledge in easy. Section 44AA specifies the books of accounts to be maintained for Income Tax purposes and also specifies the meaning of Professionals. Section - 44AA, Income-tax Act, - [Maintenance of accounts by certain persons carrying on profession or business. 44AA. Section 44aa of income tax act: Maintenance of accounts by certain persons carrying on profession or Business. 44aa(1) Every person carrying. Section 44AA gives details of Businesses and professions who are required to maintain officer to calculate their income tax as per the Income Tax Act, What Accounts Need To Be Maintained under Section 44AA? The Income Tax Act specifies as to who should maintain account books for the purpose of. Section 44AA of the Income Tax Act helps to know more about who has to keep records, what goes into those records, and how long you. Answer- Section 44AA deals with provisions Answer- The Income-tax Act does not.

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CA INTER - IPCC - Direct Tax Amendments - Sec 44AA/Sec 44AB - Part 4 - May 2018 - Ca Sunil Jain, time: 1:07:20
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