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Sec 44AD (Amended)

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(Querist)
03 April 2011 hello,
i have a trading business. i have gross turnover of Rs. 55 lakhs for F.Y.2010-2011 and i want to declare my income @ 8%. can Amended Section 44AD allows me to do so in F.Y.2010-2011? will Audit U/s 44AB applicable for F.Y.10-11?
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ca cs shriyans jain

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ca cs shriyans jain (Expert)
03 April 2011 Audit is not applicable in ur case as turnover does nt exceed 60 lacs. So u can claim benifit u/s 44AD.

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