Section 44AA-Compulsory Maintenance of Book of Accounts AY 2024-25 II Books of Accounts II скачать в хорошем качестве

Section 44AA-Compulsory Maintenance of Book of Accounts AY 2024-25 II Books of Accounts II

Tax Audit Limit    • Видео   How to calculate Turnover    • How to Calculate Turnover-Intraday, F&O & ...   Presumptive Tax U/s 44AD for Business    • Presumptive Taxation 44AD for AY 2022-23 &...   Presumptive Tax U/s 44ADA for Prodessional    • Presumptive Taxation 44ADA for AY 2022-23 ...   Section 44aa, books of accounts, rule 6a, compulsory maintenance of books of accounts, how is required to maintain books of accounts, books of accounts kab maintain karni hai, Purpose: Such books of accounts as may enable the Assessing Officer to compute total income in accordance with the provisions of Income Tax Act, 1961 (Category-A) Books of Accounts provided in Rule 6F (Category-B) Applicability: 1. Notified Professions 2. Business or other than notified professions 3. Presumptive Taxation u/s 44AE, 44BB, 44BBB 4. Sub-section (4) of section 44AD become applicable 1. Notified Professions Legal, Medical, Engineering or Architect or Accountancy or Authorized representative or Technical consultancy or Interior decoration, Film artist, Company Secretary, Information Technology, Any other profession that may be notified by CBDT in future Compulsory to Maintain Such Books of Accounts (Category-A) – No Limit of Sale / TOR / Gross Receipts or Profit Rule 6F (Type of Books and Documents as per CBDT) - (Category-B) For Notified Professions- if Gross Receipts exceeds Rs 1.50 Lakh in all the 3 immediately preceding years than maintain the below books and documents Cash Book, Journal and Ledgers Carbon copy of Bills issued in excess of 25 rupees Original bill for expenditure incurred in excess of 50 rupees Medical professional: In addition to point 2 above should maintain Daily case register in Form 3C An inventory (Opening and closing) of drugs, consumables etc 2. Business or other than notified professions Compulsory to Maintain Such Books of Accounts- (Category-A) Income exceeds Rs 1.20 Lakh (For Individual or HUF - Rs 2.50 Lakh) OR Total Sale / TOR / GR exceeds 10 Lakh (For Individual or HUF - Rs 25 Lakh) In any one of the 3 previous year immediately preceding the PY Note: For Newly Set up- Check current year 3. Presumptive Taxation u/s 44AE, 44BB, 44BBB Compulsory to Maintain Such Books of Accounts- (Category-A) Assessee covered under Presumptive Taxation u/s 44AE/44BB/44BBB and claimed his income to be lower under normal provision of income tax act than the income deemed under Presumptive Tax than in such situation he has to maintain books of accounts even his income lower than the BEL of Rs 2.50 Lakh 4. Sub-section (4) of section 44AD become applicable Assessee covered under Presumptive Taxation u/s 44AD and claimed his income to be lower under normal provision of income tax act than the income deemed under Presumptive Tax provided income exceeds the maximum amount (Rs 2.50 Lakh) which is not chargeable to income-tax in any previous year i.e he has to maintain books of accounts when his income more than the BEL of Rs 2.50 Lakh Time Period 6 Years from the end of Relevant Assessment Year Penalty Rs 25,000 under section 271A