Clarification on 44AD

shubhank sharma (13 Points)

07 June 2017  

if i declare my net profit below 8% of turnover (HUF) and get tax audit done u/s 44AB....in any FY , will it attract the NEW provisions of section 44AD...i.e. do i have to follow 44AD for NEXT 5 YEARS..?
AND what if in next FY my turnover crosses over 2 crore..? can anyone clarify please..?