SECTION 44AD- DRAFTING BLUNDER OR INTENTION

thnks sir for ur analysis and sharing this info with us.

thank u

thanks sir

In my opinion in place of the word AND, the word " OR " should be replaced.  Thanks for analysis & Information

sir, GR8 observation..

great analysis

good observation

 Sir,

Prior to amendment, if assessee claims profit less than 8%, he should get his accounts audited irrespective of the taxable income. But now the tax audit is necessary only if the profit is less than 8% and in addition to that, he should exceed the basic exemption limit. I think the govt is fair enough in imposing such a rule. Why should assessee be troubled by tax audit when there is no obligation for him to pay taxes or file return of income?. Please tell me if I am wrong. I am still a student and willing to learn.

after this interpitation it is tipical mattter for assesse. in both cases he loose.

Useful Information and Analysis.

GOOD ANALYSIS SIR

Yes Sir i completely agree with you .. What i feel is the words "AND" Should be replaced by the word "OR". BEcause when i attended a seminar on the Budget Analysis andthe interpretation given by one of th leading practioners in my city, he interpreted "AND" as if it meant "OR".

So please clarify what are your observations regarding the same...