Hi,
Hope you are doing well !!
Techincally yes, you may get away with showing 6% income and paying peanuts as taxes. But it will be much, much better in long run if you declared your actual income and paid due taxes. That way you can fully enjoy your hard earned income.
As if your case is selected in scrutiny then the AO can definitely ask for your bank account statement.
Then based on bank balance and asset generated and on industrial standard may arrive at higher profit. As sec 44AD says 6% or more. So if one has profit above 6% then he should show that.
Thanks & Regards,
Payal Chhajed