44AB applicablity

This discussion clarifies the applicability of Section 44AB audit requirements. It explains that while firms generally cannot opt for presumptive taxation under Section 44AD, they may still require an audit if their declared income is below the presumptive limits (6% or 8% of turnover) and their total income exceeds the basic exemption limit. The conditions under Section 44AD(5) and the implications of amended Section 44AD(4) are highlighted, particularly concerning businesses that previously declared presumptive income.