Eligibility of 44ADA if Turnover in Previous FY is 1 crore and Present FY is under 75L

thethinker (Individual) (29 Points)

12 June 2024  

If a professional earned 1 crore in the previous FY and is earning less than 75L in the present FY, can he opt for 44ADA?

I heard that if turnover exceeds 1 crore in the previous FY, then he cannot opt for 44ADA in the present FY even when his gross receipts are under the 75L limit. Hence the confusion