Applicability of section 44AD(4)

This query is : Resolved

Sunny (Querist)
Follow

07 October 2019 Dear Sir/Madam,

I have a query in respect of applicability of section 44AD(4)

If an individual had his accounts audited u/s 44AB not beacause of turnover exceeds 1 crore but to show lower profit rate (say less than 6%-8%) for financial year 2016-17 and 2017-18 can he opt to file his incone tax return u/s 44AD for financial year 2018-19??

Please do guide.

Sunny

Sunny (Querist)
Follow

07 October 2019 Provided his turnover for financial year 2018-19 is 1,10,00,000 rupees