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Impact Of Section 44AA And 44AB Of The Income Tax Act

Impact Of Section 44AA And 44AB Of The Income Tax Act

Submitted by • December 4, 2019 enterslice.com

Sections 44AA and 44AB were introduced for simplifying the tax compliances of people in business & small professionals. These sections prescribe minimum agreements such as maintenance of books & tax audits required by the entity that falls under the provisions of this section. Maintenance of books & accounts is not mandatory for every business. Instead, this section prescribes the criteria that decide who needs to comply with these provisions.

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Voted by Sayam123

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