If business turnover is less than 1 crore and the assesee declares profit less than 8 percent can he do so without getting books of account audited.. if yes then can the department arise question regarding genuineness of such income declarations?
according to sec 44ad if the assesee's 1) Turnover is below 2cr in that case person can declare income of 8% on income from cash transaction and 6% in case of income from digital transaction 2) opting for 44ad in that case no Tax audit Ans- limit also includes 1cr i.e from 0 to 2cr 3) you are getting confused between 44ab and 44ad 44ab is tax audit if turnover exceeds 1 cr but if you opt for 44ad then no audit Hope you understand
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