Regarding 44AD

For any eligible business sec. 44AD can be opted, where there is no need of balance sheet or books of accounts; but few mandatory details about the business need to be filled in ITR.

1. Sec 44AD can be opted by a person who is carrying on eligible business provided his gross receipts or T.O has not exceeded Rs. 2 crores during the year. 
2. If the person is carrying on a profession which is covered under sec 44AA, then in such a case he can opt to pay tax under sec 44ADA provided his gross receipts or T.O has not exceeded Rs. 50 lakhs. 
3. If he is selling a product then he may choose sec 44AD and if he is doing service then he will be covered under sec 44ADA. 
4. There is no need for showing BS and PL in the above cases it would be enough if you have entered the gross receipts.  
Please correct me if the above solution has an alternative view.