SECTION 44AB

Varsha P (3 Points)

25 March 2021  

Dear All,

From Section 44 AB I understood that tax audit is not mandatory in cases where profit is shown less than 8%/6% and Section 44 AD has not opted for any previous year. 

When I was entering data in ITR Form 4 (Presumptive) following warning is shown:

If income less than 8%/6%, it is mandatory to have a tax audit under 44AB and regular IT3 or ITR5 has to be filed and not this form.

Why is it so?