Answer ( 1 )

  1. ​​​​​In case of a person engaged in a specified profession as referred in sections 44AA(1​) and opts for presumptive taxation scheme of sections 44ADA, the provision of sections 44AA relating to maintenance of books of account will not apply. In other words, if a person opt for the provisions of sections 44ADA and declares income @50% of the gross receipts, then he is not required to maintain the books of account in respect of specified profession.

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