@ naresh_ca:
It is not only the turnover that needs to be considered as the criteria. It is one of the criteria.
And it is not a compulsion to report at least 8% or more of the profit but it is at the option of the assessee to whether to opt for presumptive taxation or not.
And apart from that, if the assessee is opting u/s 44AD and his income does not exceed the amount chargeable to tax, then even if it shows profits less than 8% or loss also, he need not get his books audited u/s 44AB
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