Income Tax Act, 2025
Section 3: Ins. by Act 5 of 1964, s. 11 (w.e.f. 11964).
3. Ins. by Act 5 of 1964, s. 11 (w.e.f. 11964).
247
1[44AA. Maintenance of accounts by certain persons carrying on profession or business.—(1)
Every person carrying on legal, medical, engineering or architectural profession or the profession of
accountancy or technical consultancy or interior decoration or any other profession as is notified by the
Board in the Official Gazette shall keep and maintain such books of account and other documents as may
enable the 2[Assessing Officer] to compute his total income in accordance with the provisions of this Act.
(2) Every person carrying on business or profession [not being a profession referred to in
sub-section (1)] shall,—
(i) if his income from business or profession exceeds 3[one lakh twenty thousand] rupees or his
total sales, turnover or gross receipts, as the case may be, in business or profession exceed or exceeds
4[ten lakh] rupees in any one of the three years immediately preceding the previous year; or
(ii) where the business or profession is newly set up in any previous year, if his income from
business or profession is likely to exceed 3[one lakh twenty thousand] rupees or his total sales,
turnover or gross receipts, as the case may be, in business or profession are or is likely to exceed 4[ten
lakh] rupees, 5[during such previous year; or
(iii) where the profits and gains from the business are deemed to be the profits and gains of the
assessee under 6[section 44AE] 7[or section 44BB or section 44BBB], as the case may be, and the
assessee has claimed his income to be lower than the profits or gains so deemed to be the profits and
gains of his business, as the case may be, during such 8[previous year; or]]
9[(iv) where the provisions of sub-section (4) of section 44AD are applicable in his case and his
income exceeds the maximum amount which is not chargeable to income-tax in any previous year,]
keep and maintain such books of account and other documents as may enable the 2[Assessing Officer] to
compute his total income in accordance with the provisions of this Act.
10[Provided 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 “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 rupees” had been substituted.]
(3) The Board may, having regard to the nature of the business or profession carried on by any class
of persons, prescribe, by rules, the books of account and other documents (including inventories,
wherever necessary) to be kept and maintained under sub-section (1) or sub-section (2), the particulars to
be contained therein and the form and the manner in which and the place at which they shall be kept and
maintained.
(4) Without prejudice to the provisions of sub-section (3), the Board may prescribe, by rules, the
period for which the books of account and other documents to be kept and maintained under
sub-section (1) or sub-section (2) shall be retained.]
Every person carrying on legal, medical, engineering or architectural profession or the profession of
accountancy or technical consultancy or interior decoration or any other profession as is notified by the
Board in the Official Gazette shall keep and maintain such books of account and other documents as may
enable the 2[Assessing Officer] to compute his total income in accordance with the provisions of this Act.
Every person carrying on business or profession [not being a profession referred to in
sub-section
if his income from business or profession exceeds 3[one lakh twenty thousand] rupees or his
total sales, turnover or gross receipts, as the case may be, in business or profession exceed or exceeds
4[ten lakh] rupees in any one of the three years immediately preceding the previous year; or
where the business or profession is newly set up in any previous year, if his income from
business or profession is likely to exceed 3[one lakh twenty thousand] rupees or his total sales,
turnover or gross receipts, as the case may be, in business or profession are or is likely to exceed 4[ten
lakh] rupees, 5[during such previous year; or
where the profits and gains from the business are deemed to be the profits and gains of the
assessee under 6[section 44AE] 7[or section 44BB or section 44BBB], as the case may be, and the
assessee has claimed his income to be lower than the profits or gains so deemed to be the profits and
gains of his business, as the case may be, during such 8[previous year; or]]
9[
where the provisions of sub-section
of section 44AD are applicable in his case and his
income exceeds the maximum amount which is not chargeable to income-tax in any previous year,]
keep and maintain such books of account and other documents as may enable the 2[Assessing Officer] to
compute his total income in accordance with the provisions of this Act.
10[Provided that in the case of a person being an individual or a Hindu undivided family, the
provisions of clause
and clause
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
and clause
shall have effect, as if for the words “ten lakh rupees”, the words
“twenty-five rupees” had been substituted.]
The Board may, having regard to the nature of the business or profession carried on by any class
of persons, prescribe, by rules, the books of account and other documents (including inventories,
wherever necessary) to be kept and maintained under sub-section
or sub-section
Without prejudice to the provisions of sub-section
or sub-section
shall be retained.]