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of <h1>Income Tax Act Amendment: Section 44AB exempts individuals declaring under 44AD(1) if turnover is under two crore rupees.</h1> Section 44AB of the Income-tax Act was amended by the Finance Act, 2017. A new proviso was inserted, exempting individuals from the section's requirements if they declare profits and gains under section 44AD(1) and their business's total sales, turnover, or gross receipts do not exceed two crore rupees for the previous year. Additionally, the language in the existing provisos was modified, changing 'Provided that' to 'Provided further that' and 'Provided further' to 'Provided also.'
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