Income on Presumptive Basis and Normal Business Income simultaneously

Chirag Singla (CA) (21 Points)

01 December 2021  

If an individual is carrying on 2 businesses as a proprietor, can he file his ITR declaring income under section 44AD for Business A and prepare normal P&L statement for Business B? If yes, can the profit declared for Business B be less than 6/8% and will he require to get his books audited?