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To understand who is required to the maintenance of books of account by certain persons, first understand the terms "specified professions" and "non-specified profession".

Maintenance of Books of Accounts by Individuals as per Income Tax

Articles

A surge of income tax notices is expected during the next month, with fears that many would fall under the tax net.

Income Tax Department is Preparing to Release a Flood of Tax Notices this Month

A tax audit is an inspection or review of the accounts of any business or profession conducted by taxpayers from an income tax perspective.

Tax Audit: Who needs to get his Accounts Audited?

The West Bengal CM, Mamata Banerjee has written to Finance Minister Nirmala Sitharaman regarding 18% GST on Life and Health Insurance Products.

18% GST on Life and Health Insurance Products: West Bengal CM Writes to Finance Minister

Salaried taxpayers who picked the old regime at the start of the FY 2024-25 and want to switch to the new tax regime now are stuck.

Budget 2024 made New Tax Regime Beneficial; Employees want to switch now, But can they?

The total number of ITRs for AY 2024-25 filed till 31st July 2024 is more than 7.28 crore, which is 7.5% more than the total ITRs for AY 2023-24 filed till 31st July 2023.

72% of taxpayers opted for the New Tax Regime, with 5.27 crore ITRs filed: CBDT

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