All India Bar Examination (AIBE) 20 (XX) Previous Year Question Papers with Answers

Practice Mode:
31.

According to Section 44AA(2)(i) of the Income-tax Act, 1961, a person carrying on business must maintain books of account if income from business or profession exceeds :

A: ₹1,20,000
B: ₹50,000
C: ₹5,00,000
D: ₹10,00,000

The answer is: A