Sec 44 ad is it mandatory

HELLO MY FRIEND

IF YOU R SHOWING YR NETPROFIT BELOW 8% THEN COMPLUSORLY U HAVE DO TAX AUDIT AND FILE THE RETURN.

AND IF YOUR TURNOVER IS MORE THAN 1 CRORE THAN U HAVE TO DO TAX AUDIT MANDATORY.

Presumptive income scheme u/s 44AD is not mandatory it is an option given to assessees whose gross turnover from business not being agency business is below Rs. 1 crore. But to file return u/s 44AD you need to show net income at minimum of 8% of your gross turnover otherwise you will need to get your accounts audited even u/s 44AD. In your case your turnover is below Rs. 1 crore so you are not covered by section 44AB to get your accounts audited compulsorily and since net income is below 8% you cannot file return u/s 44AD unless you get your accounts audited.

If earlier i file return under 44AB. should i file subsequent return for A.Y 2015-16 under 44AD.

It depends on your turnover for every year. It doesn't matter if you have previously filed your return u/s 44AB.

Once if You reached Tax audit Limit......

for Subsequent years you have to compulsorily file Tax audit Report for Your company....

I beg to differ Arul, haven't read about any such rule, where once you are covered under tax audit limit, you need to file the tax audit report for subsequent years. Can you provide me any link or something where the same is written.?

No , I assure that there is no rule like that @ Sonakshi Mangla

But once you filed ur Return u/s 44AB, subsequent year if your accounts are not tax audited,

IT department definitely send you a notice to bring the Accounts for scrutiny often....

As i'm working in an Auditor firm, i have seen many cases like these....

So it is better to get ur Account tax audited for ur accounts for subsequent years once you reached 44AB level.....

Arul not at all.  the section 44AB is self explantory.

it states that where the turnover crosses the limit for any previous year, the assessee needs to get his accounts of such previous year audited by an accountant

Further, the the query that was raised in this thread 10 months ago, the audit is not required is the income doesn't exceed the maximum exemption limit amount even if it is less than 8% of the turnover.

Dear all,

Tax Audit is not manadatory for all years. It depends upon year to year basis, on the basis of the turnover limit as prescribed.

The check points are status of the assessee, Percentage of the net profit and Amount of total Income.

Is it mandatory to opt fot sec 44AD if my turnover is less than 2 Cr?? 

no. it is not mandatory...