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Provisions u/s.44AD vs u/s.44AA - certain doubt.
Sir. my client is trader and his turnover is below 2 cr. and all the transactions are digital. So I would like to go by presemptive taxation with 6% profit u/s. 44 AD. But, due to various reasons, i would like to go by normal provisions ie u/s.44AA, I am maintaining books of accounts, hence can I proceed or do i have to get books of accounts audited? kindly clarify.
Replies (2)
If You are filing u/s 44AA then Tax audit is applicable based on Your turn over...
In case You will opt presumptive taxation scheme then You can file with profit 6% (8%)....
In case You will opt presumptive taxation scheme then You can file with profit 6% (8%)....
Thank you so much sir.
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