Presumptive taxation

CA Krishna Chaitanya M (Chartered Accountant) (463 Points)

06 September 2012  

if assesse maintains books, whose tournover is less than 60 lacks, As per books of accounts, profit is more than 8 % on tournover, he filed return of income based on sec 44 AD by applying presumptive taxation ,

is it correct to show exactly profits @ 8%  on tournover, instead of showing actual higer profits as per book of accounts.