To be more precise, if turnover of all business of eligible assessee,
excluding business covered by section 44AE, exceeds Rs.2 Crore,
taxpayer has to get accounts audited u/s 44AB and option to file
return on presumptive basis u/s 44AD in respect of any particular
business or part of business or division thereof will not be available.
Your business other than the business of plying and hiring
vehicle declared u/s 44AE is already covered by tax audit
provision u/s 44AB for the reason that your turnover therefrom is
exceeding Rs. 1 Crore. Resultantly, the benefit of presumptive
taxation u/s 44AD in respect of I and III business would not be
available to you. You have to get the Business I and III also audited
& income of it cannot be offered for taxation on presumptive
basis u/s 44AD. Limit of Rs. 1 Crore for tax audit is assessee-wise
and not business-wise. Only exception is in respect of income
from plying, hiring or leasing of your own goods carriages. You
can offer income from goods carriages on presumptive basis u/s 44AE
& tax audit would not be mandatory in such case.