Amendment of section 44AA.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ause (i) and clause (ii) shall have effect, as if for the words "one lakh twenty thousand rupees", the words "two lakh fifty thousand rupees" had been substituted: Provided further that in the case of a person being an individual or a Hindu undivided family, the provisions of clause (i) and clause (ii) shall have effect, as if for the words "ten lakh rupees", the words "twenty-five lakh rupees" ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... on newly set up business or profession in any previous year, are required to maintain books of account and such other documents if the income from such business or profession is likely to exceed one lakh twenty thousand rupees or total sales, turnover or gross receipts, as the case may be, in business or profession are, or is, likely to exceed ten lakh rupees, during such previous year to enable ....