Maintenance of accounts by certain persons carrying on profession or business

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..... ncy 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 2 [ Assessing ] Officer to compute his total income in accordance with the provisions of this Act. (2) Every person carrying on business or profession [not being a profession referre .....

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..... gains of the assessee under 10 [ section 44AE ] 8 [ or section 44BB or section 44BBB ] , as the case may be, and the assessee has claimed his income to be lower than the profits or gains so deemed to be the profits and gains of his business, as the case may be, during such 11 [ previous year; or ] , ] 13 [ (iv) where the provisions of sub-section (4) of section 44AD are applicable in .....

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..... ive lakh rupees had been substituted. ] (3) The Board may, having regard to the nature of the business or profession carried on by any class of persons, prescribe, by rules, the books of account and other documents (including inventories, wherever necessary) to be kept and maintained under sub-section (1) or sub-section (2), the particulars to be contained therein and the form and the manner .....

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..... (No. 2) Act, 1998, w.e.f. 1-4-1999. Earlier five hundred thousand was substituted for two hundred and fifty thousand by the Finance Act, 1992, w.e.f. 1-4-1993. 5. Substituted for forty by the Finance (No. 2) Act, 1998, w.e.f. 1-4-1999. Earlier forty was substituted for twenty-five by the Finance Act, 1992, w.e.f. 1-4-1993. 6. Substituted for five hundred thousand by the Fina .....

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..... ANCE ACT, 2016 w.e.f. 1st day of April, 2017, before it was read as, 12 [ (iv) where the profits and gains from the business are deemed to be the profits and gains of the assessee under section 44AD and he has claimed such income to be lower than the profits and gains so deemed to be the profits and gains of his business and his income exceeds the maximum amount which is not chargeable to in .....

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