Exception of sec 44ad

There are two important terms in Sec. 44AD. That is

1) Eligible Assessee

2) Eligible Business

Eligible Assesee includes Individual, HUF and Partnership Firm , Who is Resident  (does Not include Companies, LLP and Non Residents)

Eligible Business means any business except business of plying, hiring or leasing goods carriages referred in sec. 44AE and

Whose total Turnover or gross receipts in the previous year does not exceed an amount of 60 Lakhs rupees.

Therefore in your case,

if the person is Individual, HUF and Partnership Firm , Who is Resident and not having gross receipts in the previous year in excess of 60 lakhs rupees he can file return u/s. 44AD. 

Also note that a new ITR 4S (Sugam) has been prescribed by the department to file return of "Income on presumptive basis"

if a salaried person  total income is taxable and pay tax on his salary income, Wish to  opt  44AD for filing ITR and his business income in loss say 50000. Is Tax audit  required?Total turn over from FNO is 500000, or which ITR should he file for the same scenario? He is not maintaining Books because his total Turnover is less than 10/25 Lacs u/c 44AA.