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Rashmin Sanghvi & Associates

Chartered Accountants

220, 2nd Floor, Arun Chambers,
Tardeo Road,
Mumbai - 400 034,
Maharashtra, India.

Tel. Nos.: (+91 22) 2351 1878, 2352 5694.

Fax : (+91 22) 2351 5275.

Email : [email protected]

Home Articles Taxation         Share :

Budget 2017Chapter E

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:


Current limit

Proposed limit

For income

1.20 lakhs

2.50 lakhs

For turnover/sales/gross receipts

10 lakhs

25 lakhs