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Audit 44Ad
Sir if assessee has opted for Audit U/s 44Ad in F.Y. 2016-17 can he opt for presumptive taxation scheme in F.Y. 2017-18?
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YES YOU CAN. IN FACT ONCE YOU OPTED 44AD SCHEME, THEN YOU HAVE TO CONTINUE THE SAME FOR THE SUBSEQUENT 5 YRS.
| Originally posted by : Pratik Surve | ||
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YES YOU CAN. IN FACT ONCE YOU OPTED 44AD SCHEME, THEN YOU HAVE TO CONTINUE THE SAME FOR THE SUBSEQUENT 5 YRS. |  |
Can You explain "AUDIT U/S 44AD"?
If you asking about audit u/s 44AD then it's wrong. As per 44AD if your profit comes less than 8% then you have to get audited your books of account u/s 44AB
you can go for presumptive taxation this year. But then you should be ready to stay with it for next five years.
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