threshold limit for maintenance of books of accounts :
| CLAUSE(S) OF FINANCE BILL, 2017 |
PARTICUL ARS OF AMENDME NTS | SECTION | AMENDMENT / NEWLY INSERTED |
APPLICABLE W.E.F. |
BRIEF OF AMENDMENT |
| 19 | threshold limit for maintenance of books of accounts | Section 44AA(2) clause (i) & (ii) |
Amendment | 1st April, 2018 | As per clause (i) income from Business or Profession, threshold limit increased from1.2 Lacs to Rs. 2.5 Lacs
As per clause (ii) Total Sales or Turnover or Gross Receipts from Business or Profession threshold limit increased from Rs. 10 Lacs to Rs. 25 Lacs rupees. |