https://www.taxtmi.com/forum/issue?id=112415 An assessee adopting Presumptive Taxation under section 44AD may be exempt from maintaining books of account under section 44AA(2)(i) if eligible and compliant with 44AD; however, if total income exceeds the maximum non-taxable amount subsection 44AD(5) requires books and audit under section 44AB, and failure to follow the presumptive provisions in any of the five succeeding assessment years invokes the five-year disqualification under subsection 44AD(4). en-us Sat, 22 Jul 2017 18:44:35 +0530 Thu, 23 Jan 2025 15:55:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=112415 An assessee adopting Presumptive Taxation under section 44AD may be exempt from maintaining books of account under section 44AA(2)(i) if eligible and compliant with 44AD; however, if total income exceeds the maximum non-taxable amount subsection 44AD(5) requires books and audit under section 44AB, and failure to follow the presumptive provisions in any of the five succeeding assessment years invokes the five-year disqualification under subsection 44AD(4). Discussion-Forum Income Tax Sat, 22 Jul 2017 18:44:35 +0530 https://www.taxtmi.com/forum/issue?id=112415