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44AD, 44ADA & 44AB
this query is purely on academic basis. now after going through section 44AB, my perception is that either the assessee is required to opt 44AD/ ADA or he is mandatorily required to audit books of accounts. is my perception right? I invite the views of income tax veterans and stalwarts
Replies (1)
Section 44ab apply only when your turnover exceeds prescribed limit or your net business profit is below 8% or 6% as the case may be.
If above conditions not met then you can file regular return in ITR-3 without opting presumptive scheme.
If above conditions not met then you can file regular return in ITR-3 without opting presumptive scheme.
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