Income Tax Act, 2025
Section 10: Ins. by Act 7 of 2017, s. 19 (w.e.f. 12018).
10. Ins. by Act 7 of 2017, s. 19 (w.e.f. 12018).
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1[44AB. Audit of accounts of certain persons carrying on business or profession.—Every
person,—
(a) carrying on business shall, if his total sales, turnover or gross receipts, as the case may be, in
business exceed or exceeds 2[one crore rupees] in any previous year 3***; or
(b) carrying on profession shall, if his gross receipts in profession exceed 4[fifty lakh rupees] in
any 5[previous year; or
(c) carrying on the business shall, if the profits and gains from the business are deemed to be the
profits and gains of such person under 6[section 44AE] 7[or section 44BB or section 44BBB], as the
case may be, and he 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, in any 8[previous year; or] 3***]
9[(d) carrying on the 10[profession] shall, if the profits and gains from the 10[profession] are
deemed to be the profits and gains of such person 11[under section 44ADA] and he has claimed such
income to be lower than the profits and gains so deemed to be the profits and gains of
his 10[profession] and his income exceeds the maximum amount which is not chargeable to
income-tax in any 12[previous year; or]]
13[(e) carrying on the business shall, if 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,]
get his accounts of 14[such previous year] audited by an accountant before the specified date and 15[furnish
by] that date the report of such audit in the prescribed form duly signed and verified by such accountant
and setting forth such particulars as may be prescribed:
16[Provided that this section shall not apply to the person, who declares profits and gains for the
previous year in accordance with the provisions of sub-section (1) of section 44AD and his total sales,
turnover or gross receipts, as the case may be, in business does not exceed two crore rupees in such
previous year:]
17[18[Provided further that] this section shall not apply to the person, who derives income of the nature
referred to in 19*** section 44B or 20[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:
carrying on business shall, if his total sales, turnover or gross receipts, as the case may be, in
business exceed or exceeds 2[one crore rupees] in any previous year 3***; or
carrying on profession shall, if his gross receipts in profession exceed 4[fifty lakh rupees] in
any 5[previous year; or
carrying on the business shall, if the profits and gains from the business are deemed to be the
profits and gains of such person under 6[section 44AE] 7[or section 44BB or section 44BBB], as the
case may be, and he 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, in any 8[previous year; or] 3***]
9[
carrying on the 10[profession] shall, if the profits and gains from the 10[profession] are
deemed to be the profits and gains of such person 11[under section 44ADA] and he has claimed such
income to be lower than the profits and gains so deemed to be the profits and gains of
his 10[profession] and his income exceeds the maximum amount which is not chargeable to
income-tax in any 12[previous year; or]]
13[
carrying on the business shall, if 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,]
get his accounts of 14[such previous year] audited by an accountant before the specified date and 15[furnish
by] that date the report of such audit in the prescribed form duly signed and verified by such accountant
and setting forth such particulars as may be prescribed:
16[Provided that this section shall not apply to the person, who declares profits and gains for the
previous year in accordance with the provisions of sub-section
of section 44AD and his total sales,
turnover or gross receipts, as the case may be, in business does not exceed two crore rupees in such
previous year:]
17[18[Provided further that] this section shall not apply to the person, who derives income of the nature
referred to in 19*** section 44B or 20[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: