Doubts on presumptive taxation

This query is : Resolved

Pushpak Lal (Querist)
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23 November 2017 I have two cases. Both with relevant to section 44ADA ,- 50% deemed income

First case - A doctor earning professional income. For the last ten years I have been filing return under normal provisions by preparing balance sheet and profit and loss. Is there any problem if I suddenly take up presumptive taxation ?. If for AY 2017-18 I adopt presumptive income, next year I want to adopt normal provisions do I have to audit the books ?

Case 2-
The client is a chartered accountant. Already filed his return for Business and profession under normal provisions. Can I revise the return to file a presumptive tax return ? Will it create any problem?. Because it saves a lot of tax for him.

Thanks in advance

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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24 November 2017 1 Audit applicable only if you declare less than 50% profit in next year.
2 You can revise the return to Presumptive tax no problems.

CS Advocate Abhishek Goyal

CS Advocate Abhishek Goyal (Expert)
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24 November 2017 1. There is no problem if you suddenly file return u/s 44ADA, next year can adopt normal provisions as there is no such bar in section 44ADA.

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