Section 44AD Applicability?

Sanju.P (CA Practice ) (111 Points)

18 May 2020  

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.