26. Increase in limits for maintenance books of accounts [S. 44AA]:

Every person carrying business or profession (other than specified professional) are required to maintain books of accounts if turnover or income exceeds the limits specified in the Act. In order to reduce the compliance burden, these limits have now been increased for Individuals and HUFs. The proposed changes are summarised in the table below:

Particulars	Current limit	Proposed limit
For income	1.20 lakhs	2.50 lakhs
For turnover/sales/gross receipts	10 lakhs	25 lakhs