Sec 44AD V/s Sec 44AA :
• Presumptive Income – 8% or 6%
• Limits under Sec 44AD;
• For Business 2 Cr.
• For Profession 50 L.
• Notified profession and Specified persons need to maintain books of accounts as per Sec 44AA.
• But if return is filed under Sec 44AD then ITO will not have power to call for books of accounts for verification
• ITO to use other methods for finding any non-compliance of IT Act.