Presumptive taxation

D G MOHAN (PARTNER) (165 Points)

10 May 2017  
Ours is partnership firm turnover is less than 1crore and NP is less than 8 %. As per sec44ad audit is mandatory in our case. Can we opt out of presumptive taxation sec44ad . If yes audit is compulsory or not because turnover is less than Rs2 crores.