Section 44AA of ITA, 1961 – Section 44Aa: Maintenance Of Accounts

The Income-tax Act, 1961

(1) Every person carrying on legal, medical, engineering or architectural profession or the profession of accountancy or technical consultancy or interior decoration or any other profession as is notified by the Board in the Official Gazette shall keep and maintain such books of account and other documents as may enable the Assessing Officer to compute his total income in accordance with the provisions of this Act.

(2) Every person carrying on business or prof

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Explanation using examples

Let's imagine a scenario where Dr. Smith is a self-employed cardiologist with a private practice. As a medical professional, Section 44AA(1) of t

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Section 44AA of ITA, 1961 : Section 44Aa: Maintenance Of Accounts By Certain Persons Carrying On Profession Or Business

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Explanation using examples

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