Section 44AA Maintenance of accounts by certain persons carrying on profession or business

• January 26, 2021
• CA Chandan Agarwal's Office

Section 44AA of the Income Tax Act specifies the books of accounts that an assessee is required to maintain for Income Tax. Section 44AA together with Rule 6F lays down the provisions concerning maintaining these books of accounts. As per this section, every person carrying on

• Legal,
• Medical,
• Engineering,
• Architectural,
• Accountancy,
• Technical consultancy,
• Interior decoration,
• Authorized representative representing another person for a fee before any tribunal or a body constituted under any law.
• Film artist
• Company secretary
• Any other profession notified in the Official Gazette by the Income Tax Department

Are required to keep and maintain books of account and such accounting records to enable the Assessing Officer in computing the assessee’s total income as per the provisions of the Income Tax Act.

Read more on: https://taxguru.in/income-tax/section-44aa-maintenance-accounts-persons-carrying-profession-business.html