Good Cas who can file properly

with turnover less than 2 cr, if you declare profit equivalent or more than 8% of turnover, no audit is required.

what is turnover here? the capital used for trading ?
i beleive most of us here in TJ have capital in thousand to lakhs & not crores ??

Hello,Nikhil Ji,
I file regular ITR4.I have a query on 44AD where traders declare 8% as a profit.I read this thread completely.

As Govt and IT Dept are strictly monitoring transactions by linking Aadhar to Bank,Aadhar to PAN,Aadhar to Demat etc
Then declaring 8% will be a trouble?

For Example,My TO is 80L.
I am declaring 8% as a profit and paying a tax on it.But my actual profit is much more than it.Isnt it against the law?I am technically paying less tax.If IT dept could see this,wont I get a fine/scrutiny for such a practice?

as long as your turnover is correct, there is no problem...

@canikhil Ji- This question from my friends side.
Once we opt for 44ad scheme we cant change it for next 5yrs.But can we change the nature of business?
I mean,this year we are doing trading f&o,may be next year we'll do some other retail business which comes under 44ad.And 3rd year,we may again resume to trading.So this alteration of business allowed while taking 44ad scheme's benefit?

@canikhil Ji,pls reply this query whenever free