06 September 2012
The assessee has a turnover of Rs.68 lakhs from ONE business. This business is being audited u/s 44AB.
He wants to show a net profit of Rs.8,00,000 u/s 44AD without maintaining books of accounts for the OTHER business.
Can he do so ? Can he opt for presumptive taxation for one business, even if, he is liable to get his accounts audited u/s 44AB for the another business ?
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