Facts Of The Case:-
1.Assessee engaged in transportation of granite through own lorries.
2.No of Lorries = 7. Gross Weight of each Lorry = 25MT
3.Except for Bill book & Bank Statement, No other Books of Accounts are being maintained by the assessee.
4.Gross Turnover = Rs 1,97,00,000 (One Crore Ninety Seven Lakhs Only)
5. No other income is accrued to the assessee.
Query:-
1.Is Assessee eligible for Presumptive Taxation under S.44AE?
2.Does he require to maintain books of accounts?
3.If answer to above is yes, then whether he is required to get his books of accounts audited?
4.What would be your answer, if the turnover is Rs 2,12,00,000 ?
Note:- Assessment Year 2019-20 is applicable.
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