By reading the sec. 44AD(1) it looks like 8% of the turnover is deemed to be the income of assessee whose turnover is less than 2 crore.
Therefore, is it binding on all the assessees automatically or is it an option?
Please confirm along with the provisions.
Its optional...........
But the binding factor of deemed 8% profit margin covers even to business not declared u/s. 44AD....
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