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of <h1>Income Tax Act Amended: Section 44AA Now Applies to Individuals with Income Exceeding Non-Taxable Threshold Under Section 44AD</h1> Section 44AA of the Income-tax Act is amended by the Finance Act, 2016. Effective from April 1, 2017, clause (iv) in sub-section (2) is replaced. The new clause specifies that if the provisions of sub-section (4) of section 44AD apply to an individual and their income exceeds the non-taxable income threshold in any previous year, then the requirements of section 44AA will be applicable.
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