secrion 44ab

1. Firstly........ it is not 10000000cr but just 1 Cr. or 2 Cr.

2. Under section 44 AB a business having turnover of 1 Cr and above is mandatorily required to get its books of accounts audited..

3. But u/s. 44AD an assessee having any eligible business with TO upto Rs. 2 Cr, can declare income under presumptive method, there by no books of accounts are required to be maintained and as such no compliance of auditing books.. 

Originally posted by : Dhirajlal Rambhia
	1. Firstly........ it is not 10000000cr but just 1 Cr. or 2 Cr. 2. Under section 44 AB a business having turnover of 1 Cr and above is mandatorily required to get its books of accounts audited.. 3. But u/s. 44AD an assessee having any eligible business with TO upto Rs. 2 Cr, can declare income under presumptive method, there by no books of accounts are required to be maintained and as such no compliance of auditing books..

As mentioned in point no. 2 "business having turnover of 1 Cr and above" 

IN MY VIEW IT SHOULD BE,  BUSINESS HAVING TURNOVER ABOVE 1 Cr. 

kindly corrected me if i am worng.

Yes, you are correct........ Thanks for rectifying.....