Amendment of section 44AB.

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.... substituted; (ii) for the words "previous year," occurring at the end, the words "previous year; or" shall be substituted; (b) after clause (c), the following clause shall be inserted, namely:— "(d) carrying on the business shall, if the profits and gains from the business are deemed to be the profits and gains of such person under section 44AD and he has claimed such income to be lowe....

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....ous year or years exceeds or exceed ten lakh rupees. Such persons will also be required to obtain before the specified date a report of the audit in the prescribed form. These requirements will apply only in relation to the accounts for the previous year or years relevant to any assessment year commencing on 1^st April, 1985 or any subsequent assessment year. In cases where the accounts of a perso....