As per sec. 44AD income will be 8% of Rs 12lacs, and
yes the assessee can choose any of the beneficial option...

Further, he stops to maintain books of accounts in the current PY if he choose Presumptive income method as per 44AD and take income @ 8%.

@ Ruteen : An assessee can chose beneficial option .... he can take presumptive income at minimum 8% of his turnover...

Dear Yogesh

In the query, there are two different cases.

1) If books are maintained

2) If no books are maintained

Further Section 44AD reads as "in the case of an eligible assessee engaged in an eligible business, a sum equal to eight per cent of the total turnover or gross receipts of the assessee in the previous year on account of such business or, as the case may be, a sum higher than the aforesaid sum claimed to have been earned by the eligible assessee...." So how would one interprete the words "as the case may be"

I am not getting you clearly,, if you take presumptive income then there is no relevance that you maintain books or not,, and there is relevance of books if you claiming more or less profit than presumptive income. As the case may be interpret as a choice for assessee and both are allowable. If anything else required pls. let me know.