Income u/s 44AE Exempts Assessee From Maintaining Books or Audit Requirements u/ss 44AA and 44AB.

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....Presumptive income - Once the assessee’s income is accepted u/s 44AE, then the provisions of section 44AA and 44AB are not applicable and consequently there can be no default on the part of the assessee for maintaining the regular books of account as well as getting the same audited.....