https://www.taxtmi.com/forum/issue?id=111577 Whether a taxpayer who adopts the presumptive taxation regime under section 44AD but reports profit above the deemed return must maintain books of account under section 44AA; section 44AA explicitly mandates bookkeeping when declared income is lower than the deemed income and total income exceeds the basic exemption, but is silent regarding declared income above the deemed percentage, creating an interpretive gap about the interplay between the presumptive scheme and statutory bookkeeping obligations. en-us Sat, 04 Mar 2017 10:11:31 +0530 Thu, 23 Jan 2025 15:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=111577 Whether a taxpayer who adopts the presumptive taxation regime under section 44AD but reports profit above the deemed return must maintain books of account under section 44AA; section 44AA explicitly mandates bookkeeping when declared income is lower than the deemed income and total income exceeds the basic exemption, but is silent regarding declared income above the deemed percentage, creating an interpretive gap about the interplay between the presumptive scheme and statutory bookkeeping obligations. Discussion-Forum Income Tax Sat, 04 Mar 2017 10:11:31 +0530 https://www.taxtmi.com/forum/issue?id=111577