Section 44AB deals with the provisions regarding the audit of books of accounts of an assessee. As per this section, following assessees are compulsorily required to get their account audited.

A person carrying on profession, if his gross receipts in profession for the year exceed Rs. 50 lakhs.

A person carrying on business, if his total turnover or gross receipts in business for the year exceed or exceeds Rs. 1 crore.

A person who is eligible to opt for the presumptive taxation scheme of section 44AD and wants to claim the profits or gains for such business to be lower than the profits and gains computed as per the presumptive taxation scheme of section 44AD.

​If an eligible assessee opts out of the presumptive taxation scheme, after specified period, he cannot choose to revert back to the presumptive taxation scheme for a period of five assessment years thereafter.