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44ab applicability
is it compulsory to declared 8% profit if I have business, and what if I am not declared 8% profit and not opt 44AD (turnover is below 1 crore)
Replies (2)
Not compulsory for 6/8% profit margin, if the assessee had not opted out from sec. 44AD, in any previous year, (including current) before completion of 5 years continuously.
maintain books of accounts and pay actual tax
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