Income tax

Yes, but once presumptive assessment opted you have to maintain minimum profit margin for at least five years.

Sir the company is a developer of the Residential building. They open different companies for the different projects. A whole project needs to complete  3-4 years. So in the last 2 years the sale of flats occur. so how we able to maintain a profit margin for 5 years?

First clarify whether it is company or partnership firm?

It is a Partnership Fim

If profit margin cannot be maintained as per sec. 44AD, better to go with normal accounts maintained case, and file ITR5 with P&L accts & BS......

The company filed ITR5 in previous AY but now filed ITR4 in this year. Is there any problem with this?

Once opted sec. 44AD, you will be required to declare minimum 6/8% profits for next 4 years, otherwise tax audit will be applicable...... no other problem...

ok sir thank you.................

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