audit of accounts under section 44AB
According to existing provisions
every person carrying on business is required to get his accounts audited if
the total sales exceeded Rs. 2,00,00,000/-.
It is proposed to insert a
proviso to provide that the above requirement will not apply to a person whose
gross receipts do not exceed Rs. 2,00,00,000/-and who declares profits in
accordance with presumptive basis u/s. 44AD(1).