Section 20 - Amendment of section 44AB. - Finance Act, 2017

Amendment of section 44AB. 20. In section 44AB of the Income-tax Act,- (i) before the first proviso, the following proviso shall be inserted, namely:- Provided that this section shall not apply to the person, who declares profits and gains for the previous year in accordance with the provisions of sub-section (1) of section 44AD and his total sales, turnover or gross receipts, as the case may be, in business does not exceed two crore rupees in such previous year: ; (ii) in the first proviso, for the words Provided that , the words Provided further that shall be substituted; (iii) in the second proviso, for the words Provided further , the words Provided also shall be substituted.