Presumptive taxation under section 44AD exempts businesses from maintaining books under section 44AA when eligible. Adoption of the presumptive taxation scheme under section 44AD removes the obligation to maintain books of account mandated by section 44AA for the business income covered by the presumptive regime; recordkeeping duties under section 44AA continue to apply to other businesses or professions not covered by section 44AD.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Presumptive taxation under section 44AD exempts businesses from maintaining books under section 44AA when eligible.
Adoption of the presumptive taxation scheme under section 44AD removes the obligation to maintain books of account mandated by section 44AA for the business income covered by the presumptive regime; recordkeeping duties under section 44AA continue to apply to other businesses or professions not covered by section 44AD.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.