Whether section 44AD would be applicable in the below mentioned case?
Turnover for FY:2019-2020:Rs.69,00,000/- (All cash sales)
Net Profit: Rs.2,76,000 (Less than 8%)
Total Income above basic exemption limit
For FY 2018-2019 Income tax return filed under normal provision of Income tax act.
CAclubindia
