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  1. Shubham Bhardwaj

    Shubham Bhardwaj New Member

    Which ITR form to file for a lawyer for A/y 15-16.
    If it is ITR4 then books to be maintained or not for an assesse who turnover is about below 10 lakhs.
     
  2. ZED

    ZED Well-Known Member

    Yup, its ITR-4.

    A Lawyer is mandatorily required to maintain proper books of accounts.

    44AA. (1) Every person carrying on legal, medical, engineering or architectural profession or the profession of accountancy or technical consultancy or interior decoration or any other profession as is notified by the Board in the Official Gazette shall keep and maintain such books of account and other documents as may enable the Assessing Officer to compute his total income in accordance with the provisions of this Act.
     
  3. ZED

    ZED Well-Known Member

  4. INVESTURU

    INVESTURU Member

  5. ZED

    ZED Well-Known Member

    Please go through it once again.
    That part is for those professions which are not covered under the above list.
    That part is from Sub section 2 to section 44AA and is applicable for those professions which are not covered under sub section 1.



    44AA. (1) Every person carrying on legal, medical, engineering or architectural profession or the profession of accountancy or technical consultancy or interior decoration or any other profession as is notified by the Board in the Official Gazette shall keep and maintain such books of account and other documents as may enable the Assessing Officer to compute his total income in accordance with the provisions of this Act.

    (2) Every person carrying on business or profession [not being a profession referred to in sub-section (1)] shall,—

    (i) if his income from business or profession exceeds one lakh twenty thousand rupees or his total sales, turnover or gross receipts, as the case may be, in business or profession exceed or exceeds ten lakh rupees in any one of the three years immediately preceding the previous year; or

    (ii) where the business or profession is newly set up in any previous year, if his income from business or profession is likely to exceed one lakh twenty thousand rupees or his total sales, turnover or gross receipts, as the case may be, in business or profession are or is likely to exceed ten lakh rupees, during such previous year; or

    (iii) where the profits and gains from the business are deemed to be the profits and gains of the assessee under section 44AE or section 44BB or section 44BBB, as the case may be, and the assessee 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, during such previous year; or

    (iv) where the profits and gains from the business are deemed to be the profits and gains of the assessee under section 44AD and he has claimed such income to be lower than the profits and gains so deemed to be the profits and gains of his business and his income exceeds the maximum amount which is not chargeable to income-tax during such previous year,

    Following clause (iv) shall be substituted for the existing clause (iv) of sub-section (2) of section 44AA by the Finance Act, 2016, w.e.f. 1-4-2017 :

    (iv) where 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,

    keep and maintain such books of account and other documents as may enable the Assessing Officer to compute his total income in accordance with the provisions of this Act.
     
  6. INVESTURU

    INVESTURU Member

    Yes, Thank you..
     
  7. ZED

    ZED Well-Known Member

    @INVESTURU
    You scared me for a while.
    Were all your queries answered or was one was left??
     
  8. Shubham Bhardwaj

    Shubham Bhardwaj New Member

    Dear,

    If the books are not maintained by the lawyer then what would happen in that cases
     
  9. ZED

    ZED Well-Known Member

    S271A. Without prejudice to the provisions of section 270A or section 271, if any person fails to keep and maintain any such books of account and other documents as required by section 44AA or the rules made thereunder, in respect of any previous year or to retain such books of account and other documents for the period specified in the said rules, the Assessing Officer or the Commissioner (Appeals) may direct that such person shall pay, by way of penalty, a sum of twenty-five thousand rupees.
     
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