11 August 2018
IF I HAVE FILED ITR 4S (PRESUMPTIVE INCOME) IN AY 2016-17 & FILED ITR 3 IN AY 2017-18 IN BOTH THE YEARS TURNOVER WAS BELOW RS. 1 CRORE. NOW IN AY 2018-19 TURNOVER IS MORE THAN 1 CRORE, CAN I FILE ITR 4 (PRESUMPTIVE INCOME) IN AY 2018-19 OR I HAVE TO GET AUDITED & FILE ITR 3??
AS THERE IS RULE THAT IF WE HAD FILE ITR 4S (PRESUMPTIVE) IN ONE AY & THEN SHIFTED TO ITR 3 THEN FOR 5 YEARS I CAN'T OPT FOR 44AD??
IS THIS RULE APPLY ONLY TO ASSESSE'S WHOSE TURNOVER IS MORE THAN 1 CRORE OR TO ALL NORMAL TAXPAYERS??
CAclubindia
