TaxTMI Login
🎉 Festive Offer: Flat 15% off on all plans! →⚡ Don’t Miss Out: Limited-Time Offer →
TaxTMI 
Login
Just a moment...
By creating an account you can:
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All TMI Notes
of of All TMI Notes
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Finance Bill 2017 amends Section 44AA, raising income and turnover thresholds for account maintenance for individuals and HUFs.</h1> The Finance Bill, 2017 proposes an amendment to section 44AA of the Income-tax Act, increasing the monetary thresholds for maintaining books of accounts for individuals and Hindu Undivided Families (HUF). The income threshold is raised from 120,000 to 250,000 rupees, and the threshold for total sales, turnover, or gross receipts is increased from 1,000,000 to 2,500,000 rupees. This change applies to both ongoing and newly established businesses or professions and is effective from April 1, 2018, impacting the assessment year 2018-2019 and beyond.
TaxTMI 