44 AD or 44 AB

Ajay Quirine Miranda (jeppu.dakshina kannada) (45 Points)

29 June 2017  

I have a Query regarding one of my client.

In 2014-15, Turnover was 99,45,641 so dealt with 44AD .

In 2015-16, Turnover was 1,44,36,500 so Tax audit as per 44AB (1 Crore)

So 2016-17 , Turnover is 1,22,63,270

 

So my query is whether for 2016-17 Financial year whether should be filed return under Presumptive profit -44AD or Tax Audit- 44AB

Thank you,

Regards,

Ajay Miranda