Section 44 AD

If a builder declares income u/s 44AD then whether the advance received from the customers during the construction period shall be treated as gross receipt for charging tax @ 8% or the tax shall be charged when the possession of the flat / duplex is given to the customer?

tax audit is not mandetory...

no need for audit u/s 44AB

:)

For showing income more than 8% the audit is not mandatory in this case.

SEC.44AD-----PRESUMPTIVE TAXATION

In the case of assessee, being an individual , HUF or a firm other than LLP carrying on any business except the business of plying , hiring or leasing goods carriages referred in sec. 44AE and whose gross recipts from such business does not exceed  Rs. 60 Lakhs,a sum equal to 8% of the gross recipts paid or payable to the assessee or such higher sum as declared by the assesse in the return of income shall be deemed to be the income from such business......

so provisions of sec.44AD does not applies to your business......

Thanx my dear friends for your valuable opinions.

abhisek sir thank you for your valuable informaions..