Compulsory maintenance of books of accounts
WebJan 21, 2024 · Presumptive taxation under section, 44AD – not required to maintain books under section 44AA: However, if the assessee switches to normal scheme from … WebSep 23, 2024 · Maintenance of books of accounts by Professionals: 1) Legal. 2)Medical. 3)architectural. 4)engineering. 5)accountancy.
Compulsory maintenance of books of accounts
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WebNov 8, 2024 · The provision regarding the maintenance of the books of accounts for different categories of taxpayers is contained in section 44AA of the Income Tax Act-1961. Let us know about it: Salaried Taxpayers: …
WebWhen Maintenance of Books of Accounts becomes Compulsory (Section 44AA) Persons carrying on “Specified Professions” [Section 44AA (1)] : Persons carrying on “Non-Specified Professions” or any Business [Section 44AA (2)] When maintenance of Books of Account Not Necessary . Consequences of Failure to Keep Accounts, etc: WebJan 30, 2014 · Rule 6F (5) provides that the books of accounts and other documents are to be kept for at least 6 years from the end of relevant assessment year. That means from the assessment year 2009-10 one should keep books of accounts upto the assessment year 2003-04 i.e. books of accounts of financial year 2002-03.
WebAug 19, 2024 · The Companies (Accounts) Fourth Amendment Rules, 2024 amended that the books of account and other relevant books and papers maintained in electronic mode should remain accessible in India “at all times”. The latest amendment says that the back up of the books of account and other documents kept in electronic mode, including at any … WebMar 28, 2016 · In relation to any other persons engaged in any other profession or carrying on any business other than section 44AA (1), the requirement of compulsory maintenance of books of accounts applies if- either the income from business or profession exceeds Rs 120000 or the turnover or gross receipts exceed Rs 10 Lakhs in any one of the three …
WebSep 22, 2024 · Section 44AA - Compulsory Maintenance of books of account, otherwise penalty of 25,000/- Levy - YouTube #IncomeTax #GSTHii 😊In this video, we will talk about Section 44AA of Income Tax Act...
Web6. Maintenance of books of account in electronic mode Sub-section (1) of section 128 of the Act enables the preparation and keeping of Books of Account, books and papers, financial statement in electronic mode. A company may keep books of account in electronic mode in such manner as may be prescribed in the rule 3. posx highspeed driverWebApr 14, 2024 · It is a 14-digit identification number for every surveyed parcel of land in India, launched in 2024. Purpose. To prevent land fraud and maintain updated land records. Key Features. Based on the longitude and latitude coordinates of the land parcel. Dependent on detailed surveys and geo-referenced cadastral maps. toter rapperWebJul 18, 2024 · As per Section 36 of the CGST Act, 2024, it is compulsory to maintain books of Account and Records under Goods and Service Tax ( GST) law by all registered person. Books of Accounts refer to the documentation of all the financial data and financial information of the entity. It states financial position of the business. toter rabeWebMar 21, 2024 · The following books of accounts and papers must be kept in accordance with Rule 6F (2): 1) a cash register, 2) If the accounts are kept under the commercial … toter replacement lid kit for 96 galWebOct 5, 2024 · When Maintenance of Books of Accounts Required, Compulsory Maintenance of Books of Accounts - YouTube This video explains the section 44AA of income tax act which is about … toters and trailers onlyWebJun 1, 2024 · Accounts are not required to be maintained under the following conditions: Businesses and professions covered under Section 44AD and Section 44AE: Businesses and professions under these sections do not have to maintain books of accounts. toter roter pandaWebThis video explains the section 44AA of income tax act which is about compulsory maintenance of books of accounts by certain businesses and professions. This... toter recycle bin