Section 44AA in The Income Tax Act, 1961
44AA. [ Maintenance of accounts by certain persons carrying on profession or business. [Inserted ... Section 11 (w.e.f. 1.4.1976).]
(1) Every person carrying on legal, medical, engineering or architectural profession or the profession of accountancy or technical consultancy
Section 30 in Finance Act, 1999
30. Amendment of section 44AE.
- In section 44AE of the Income-tax Act, after sub-section (6), the following ... books of account and other documents as required under sub-section (2) of section 44AA and gets his accounts audited and furnishes a report
Section 31 in Finance Act, 1999
31. Amendment of section 44AF.
- In section 44AF of the Income-tax Act, after sub-section (4), the following ... books of account and other documents as required under sub-section (2) of section 44AA and gets his accounts audited and furnishes a report
Section 29 in Finance Act, 1999
29. Amendment of section 44AD.
- In section 44AD of the Income-tax Act, after sub-section (5); the following ... books of account and other documents as required under sub-section (2) of section 44AA and gets his accounts audited and furnishes a report
engaged in a profession referred to in sub-section (1) of section 44AA and whose total gross receipts do not exceed fifty lakh rupees ... books of account and other documents as required under sub-section (1) of section 44AA and get them audited and furnish a report of such
income in accordance with the provisions of IT Act . Sub-section (3) of Section 44AA empowers the Board to prescribe rules for the purpose ... provision as well i.e. Section 271A . This Section 271A prescribes that the documents as required by Section 44AA or the rules made thereunder
were applicable to the cases of professions specified in Sub-section (1) of Section 44AA whereas no books of account were prescribed for business ... provisions which the Revenue can rely upon is Sub-section (2) of Section 44AA of the Act which enjoins upon the assessee to keep
Section 14 in Finance Act, 2012
14. Amendment of section 44 AD.
- In section 44AD of the Income-tax Act, - (a) after sub-section ... person carrying on profession as referred to in sub-section (1) of section 44AA; (ii) a person earning income in the nature of commission
levied u/s 271B of the Act.
But it is to be seen that section 44AB is dependent on section 44AA ... violation of section 44AA and section 44AB of the Act and in case of violation
of section 44AA of the Act, penalty u/s 271B
Assessing Officer has already imposed the penalty U/s
271A for violation of the provisions of Section 44AA of the Act. The AO
has also ... penalty under clause
(1) of sub-section (c) of section 18 of the Act is exigible.
14. Therefore, section 271B
