Sec 44ad and 44ab

Sreevidhya V (403 Points)

26 October 2019  
an individual having turnover 2.5 lacs and business loss 1.4 lacs and salary income 5 lacs...
business newly started in 2018 September.
his total income for the year 5 lacs as business loss not set off against salary income.
is he liable to maintain books or liable to audit as he declares income less than 8/6% and his income exceeds basic limit.
he is not opting for 44ad section in this year. pls clarify Urgently