Presumptive taxation (urgent)

44AD does not apply as the taxable income is below 8%, hence sec 44AB applies and audit is needed

Hi

I have consult same thing with our company CA and after discussion he told us there is no need to get books audited & maintain.

Bcz the section is silent about the business loss.

yes you need to get your books of accounts audited..

IF COMPANYIS COVERED U/S 44AB THEN ANSWER IS YES BUT WHEN HIS INCOME IS BELOW THE  MAXIMUM LIMIT CHARGABLE TO TAX THEN HE IS NOT REQUIRED TO GET HIS ACCOUNTS AUDITED AND NO NEED TO MAINTAIN BOOKS OF ACCOUNT

when any income claimed is less than 8% of turnover, books are reqd to be audited u/s 44AB. Return to be filed on time to attain the c/f of loss.

If your concern is not a Company and its taxable income is below basic exemption limit ,then only u are not required to get books audited.

Sec 44AD is not applicable to a Company ,and Co have to maintain books of account and get it audited(tax audit),[Stat Compulsory] only  if turnover exceeds prescribed limits.