My Gross Receipts from Business for PY 17-18 is Rs 1.05 Crores
However I have a Business Loss of Rs 4 Lacs and my GTI is below 2 Lacs
1. Do I need to get audited u/s 44AB as my gross receipts exceed 1 Crore
2. Do I need to get audited u/s 44AD because Profit is less than 8%
3. I have also read somewhere that these sections apply only is income exceeds the maximum amount which is not chargeable to income-tax in any previous year. So in such case am I exempted from audit from both these sections?