So the conclusion is-
if declaring 8% of TO is very costly,then go for audit.We cant declare 8% profit on 1Cr TO,its very costly,so better go for audit and pay the tax accordingly.
Else,declare 8% of TO.
Say example,Year 1,2,3 I declared 8% profit because I'm either in a loss or profit is very small.But in Year 4,I did heavy option writting and TO became say 1.50Crs,then we cant afford to declare 8% on this 1.5Crs TO.
So going for an audit is the best option.
That means 44AD and Audit are both Eco-friendly option for a trader.
Is my understanding correct?
traderniftybull Sir and Nikhil Sir?