Association of persons or body of individuals or artificial juridical person formed for a particular event or purpose - Income Tax Bill, 2025 - Old Version
Association of persons or body of individuals or artificial juridical person formed for a particular event or purpose - Income Tax Bill, 2025 - Old Version
Recordkeeping obligations require maintenance of books of account when income or turnover thresholds are met. Maintenance of books and documents enabling computation of total income is required for persons carrying on specified professions or businesses who meet ... Summary
Recordkeeping obligations require maintenance of books of account when income or turnover thresholds are met.
Maintenance of books and documents enabling computation of total income is required for persons carrying on specified professions or businesses who meet prescribed income or turnover criteria, with modified thresholds for individuals and Hindu undivided families and where claimed income is lower than deemed profits. The Board may prescribe the specific books, particulars, form, place of maintenance and retention period. Specified profession includes listed professional services and any others notified by the Board.
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