Audit Applicable or Not.

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TAX PRACTITIONER
293 Points Joined June 2019
Respected sir,
My client Had Audit For the Ay 2017 - 18 And after the Ay Year 2018-19,2019-20, 2020-21, & 2021-22 he opts 44Ad and Now he wants to Audit for the Ay year 2022-23.can he applicable for audit for 2022-23
Plz guide me.
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On 05 September 2022 at 17:01 Report
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Chartered Accountant
86505 Points Joined April 2011

Yes he can do so but he cant opt for 44AD in next 5 years.

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On 05 September 2022 at 22:44
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TAX PRACTITIONER
293 Points Joined June 2019
But sir not complete 5 years for 44Ad from ay 2017-18 for continues 5 years
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On 06 September 2022 at 12:13
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Chartered Accountant
86505 Points Joined April 2011
You can opt out from Sec 44AD any time but once you opt out means you go for audit then you have to get your books audited for next 5 years.
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On 06 September 2022 at 22:14


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