Whether Declaration of higher income under preemptive taxation scheme than prescribed under Section 44ADA of Income-tax Act, 1961

Dear Sir, Ma'am, the query is as follows - Both Section 44AD and Section 44ADA prescribe a minimum threshold of declaration of income of 6%/8% and 50% of the turnover respectively in order to opt for presumptive taxation scheme, otherwise tax audit becomes applicable. These provisions also allow the assessee to declare income higher than the prescribed limit of 6%/8% and 50% in the return of income. A question arises whether declaring such higher income is compulsory in case where the actual income of the Assessee exceeds these threshhold limits or can the assessee continue to opt to declare income…

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