Audit of accounts of certain persons carrying on business or profession

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....and (b) aggregate of all payments made including amount incurred for expenditure, in cash, during the previous year does not exceed five per cent. of the said payment, this clause shall have effect as if for the words "one crore rupees", the words "^32[ten crore rupees]" had been substituted; or] ^33[Provided further that for the purposes of this clause, the payment or receipt, as the case may be, by a cheque drawn on a bank or by a bank draft, which is not account payee, shall be deemed to be the payment or receipt, as the case may be, in cash.] (b) carrying on profession shall, if his gross receipts in profession exceed ^21[fifty lakh rupees] in any ^3[previous year; or (c) carrying on the busi....

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....or sub-section (1) of section 44ADA:] ^8[^27[Provided further that] this section shall not apply to the person, who derives income of the nature referred to in ^9[****] section 44B or ^10[section 44BBA], on and from the 1st day of April, 1985 or, as the case may be, the date on which the relevant section came into force, whichever is later : ^28[Provided also] that] in a case where such person is required by or under any other law to get his accounts audited ^11[****], it shall be sufficient compliance with the provisions of this section if such person gets the accounts of such business or profession audited under such law before the specified date and ^12[furnishes by] that date the report of the audit as required under such other la....

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....de Section 13 of the Finance Act, 1995 w.e.f. 01-07-1995 before it was read as, "obtain before" 8. Substituted vide Section 20 of the Finance Act, 1992 w.e.f. 01-04-1985 before it was read as, "Provided that" 9. Omitted vide Section 13 of the Finance Act, 1995 w.e.f. 01-07-1995 before it was read as, "section 44AC or"  10. Substituted vide Section 23 of the Finance Act, 2003 w.e.f. 01-04-2004 before it was read as, "section 44BB or section 44BBA or section 44BBB" 11. Omitted vide Section 13 of the Finance Act, 1985 w.e.f. 01-04-1985 before it was read as, "by an accountant" 12. Substituted vide Section 13 of the Finance Act, 1995 w.e.f. 01-07-1995&nbsp....

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....inance (No. 2) Act, 2009 w.e.f. 01-04-2011 before it was read as, "section 44AD or section 44AE or section 44AF" 17. Substituted vide Section 19 of the Finance (No. 2) Act, 2009 w.e.f. 01-04-2011 before it was read as, "previous year" 18. Inserted vide Section 19 of the Finance (No. 2) Act, 2009 w.e.f. 01-04-2011 19. Substituted vide Section 13 of the Finance Act, 2012 w.e.f. 01-04-2013 before it was read as, "sixty lakh rupees" Earlier, Substituted vide Section 14 of the Finance Act, 2010 w.e.f. 01-04-2011 before it was read as, "forty lakh rupees" 20. Substituted vide Section 13 of the Finance Act, 2012 w.e.f. 01-04-2013 before it was read as, "fifteen lakh rupees" Earl....