Maintenance of Books of accounts under Income Tax Act, 1961

Munimji Training And Placement Academy21 Jan, 2021Education

In this article, we will discuss the legal provisions on the compulsory maintenance of books of accounts as specified in section 44AA of the Act by a Professional declaring tax under section 44ADA. Let us begin the discussion analyzing the provisions of section 44AA of the Act related to ‘Maintenance of accounts by certain persons carrying on profession or business’.