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of <h1>Amendment to Section 44AD: Profit Declaration Non-Compliance Leads to Five-Year Benefit Loss; Audit Mandate for Higher Income</h1> Section 44AD of the Income-tax Act was amended by the Finance Act, 2016, effective April 1, 2017. The amendment removed the proviso in sub-section (2) and replaced sub-sections (4) and (5). Now, if an eligible assessee does not declare profit as per sub-section (1) for any of the five assessment years following a compliant year, they lose the section's benefits for the subsequent five years. Additionally, such assessees with income exceeding the non-taxable limit must maintain books and have them audited. The monetary threshold in the Explanation was increased from one crore to two crore rupees.
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