Return filed u/s 44ADA instead of 44AD
This query is : Resolved
01 October 2020
One assessee filed I.Tax return under 44AD for the year 2018-19 who is an interior designer by mistake under other contractor business.
Now i want to file I.Tax return u/s-44ADA for the fy-2019-20 under Architecture Service and declared more than 50% profit of total turnover.
It is possible or not??
Need to file u/s 44AD instead of 44ADA bec.only 1 year return was filed u/s 44AD and as per income tax rules minimum 5 year to be filed u/s 44AD!!
Clarify on priority basis
Read more at: https://www.caclubindia.com/experts/ask_query.asp
Now i want to file I.Tax return u/s-44ADA for the fy-2019-20 under Architecture Service and declared more than 50% profit of total turnover.
It is possible or not??
Need to file u/s 44AD instead of 44ADA bec.only 1 year return was filed u/s 44AD and as per income tax rules minimum 5 year to be filed u/s 44AD!!
Clarify on priority basis
Read more at: https://www.caclubindia.com/experts/ask_query.asp
01 October 2020
It's possible to file ITR under 44ADA.
No time limit applicable for comming out of 44AD, any time we may come out but for opting back 5 years time limit applicable in case of 5 years 44AD not continued.
No time limit applicable for comming out of 44AD, any time we may come out but for opting back 5 years time limit applicable in case of 5 years 44AD not continued.
01 October 2020
Warmly thanks sir for prompt reply...
As Architecture Service 44AD is not applicable as per provision of I.Tax Act.
Last year we are made mistake for selecting section.
agains thank you sir
As Architecture Service 44AD is not applicable as per provision of I.Tax Act.
Last year we are made mistake for selecting section.
agains thank you sir
01 October 2020
You are welcome.......
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