Maintenance of books of account required when presumptive scheme profits are claimed lower and taxable income exceeds exemption.

Amendment requires maintenance of books and documents where an assessee covered by the presumptive taxation regime claims profits lower than the profits deemed under that regime and the assessee's total income exceeds the maximum amount not chargeable to tax; the change takes effect from 1 April 2011 and applies to the assessment year commencing then and subsequent years.

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