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44AD five years block
if I opted for 44A|D in FY 1617 n in FY 1718 my turnover limit is more than 44AD ka limit say 2.5 cr I have to compulsory go for 44AB . Then whether I will get disqualified for 44AD for FY1819 assuming my t/o is less than 2Cr?????
Replies (5)
NO.......... that is not your own choice !!!
Yes from A.Y.18-19 once you opted out of Sec 44AB you cant opt for Sec 44AD for next 5 yeard....
But had no option to continue 44AD in FY 17-18 as my turnover was more than 2 cr. I was not eligible for FY 17--18. It was not by choice.
Then also you have to opt out of Sec 44AD for next 5 years.....
i think in that year 44ad any which case not applicable becz you crossing the limit of 2 crore
5 year condition in that year apply in which your turnover is less than 2 crore and you shown profit less than 8% in that year you broke the condition
turnover is not in your control but showing less profit is in your control
so for next year you are very much eligible
5 year condition in that year apply in which your turnover is less than 2 crore and you shown profit less than 8% in that year you broke the condition
turnover is not in your control but showing less profit is in your control
so for next year you are very much eligible
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