For the AY 2017-2018
the Turnover limit under section 44AD was increased to 2crores, whereas the Limit under Section 44AB was not changed and remained at 1Crores.
similarly the provision for Professional remained at 25 Lacs, whereas a new subsection 44ADA was introduce with the limit of 50 lacs.
Now is this an error or something difficult to understand what FM wanted...
Most of the Articles and comments by many CA says it is error...
and nor there any article which says this is done deliberately and explain the real hidden points of this clause...
so maybe you can throw some light and what is the intention behind it...
well i could not find any reason behind it on Google atleast...
and now one of my client who has opted for 44AD in AY 2016-2017 has Turnover of 1.5 Cr in AY 2017-2018.. so the problem starts here :(
can he opt for 44AB or not ?
CAclubindia
