Mr. Manish, a resident individual engaged in the business of trading in mobile accessories, had a turnover of ₹ 1.80 crore during the Previous Year 2025-26. Being an eligible assessee, he opted for the presumptive taxati

Consequences if a qualified assessee chooses Section 44AD i. The deductions provided in sections 30 to 38 are deemed to be allowed: Any deduction covered under sections 30 to 38 shall not be allowed as a deduction if the assessee opts for section 44AD to compute the profit of the business. ii. Written down value: The written down value of any asset of an eligible business shall be deemed to have been calculated as if the eligible assessee had claimed and had been actually allowed the deduction in respect of the depreciation for each of the relevant assessment years. iii. Restriction on the utilization of section 44AD: If the assessee declares income under section 44AD and the assessee is eligible to declare income under section 44AD in the subsequent previous year but the assessee does not declare the income under section 44AD, he shall not be eligible to claim the benefit of the provisions under this section for 5 assessment years subsequent to the assessment year relevant to the previous year in which the profit has not been declared in accordance with the provisions of section 44AD. iv. Maintenance of Books of Account / Audit u/s 44AB: If the eligible assessee declares profits in accordance with the provisions of section 44AD, he is not required to maintain books of account under section 44AA or to get them audited under section 44AB. v. Advance payment of tax: If an eligible assessee declared profit as per section 44AD, the assessee can pay the whole amount of advance tax during each financial year on or before 15th of March.