Budget 2016- impact on 44ab of limit increased u/s 44ad

utpal jain (article assistant) (34 Points)

17 March 2016  
as all we know that limit of sec 44AD has been increased to 2cr in Budget 2016. my que - if a person has a turnover of say 1.7 cr and he does not maintain books of accounts. now he can file return u/s 44AD and can show 8% and above presumptive income. as per sec 44AB a person shall get audit his books of accounts u/s 44AB if turnover exceeds 1cr. now question arises that he does not maintain any books so whether he has to get audit his books of accounts u/s 44AB as turnover exceeds 1cr? and if yes then what is the meaning of increasing the limit in 44AD.