* If business has filed the return under sec44ADA by showing presumptive income of 8% then there is no need to get books Audited u/s 44AB .
* now business shall show atleast 8% of its sales as a profit for next five years , if not business would get its books audited .
* my question is if business gets loss in any of next five years , do the business have to show its profit as per sec44ADA , I.e 8% of sales or gross receipts .
* if so , isn't it a loss for the business .
CAclubindia
