One of my client File ITR for AY 17-18 by filling form 3( not opted for presumptive scheme) now for AY 18-19 he wanted to opt for presumptive scheme.
is there any issue in the same?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(167415 Points)
Replied 03 July 2018
No issue in opting for sec. 44AD, provided eligible business & eligible assessee........ only issue is while opting out without 5 years of continuation.
Jeeva Thangavelu
(Student CA Final )
(609 Points)
Replied 03 July 2018
No issues. You can opt for Persumptive taxation u/s 44AD. There will be issue only if you break the chain, that is you are filing u/s 44AD in AY 18-19 and if you go out of 44AD in AY 19-20 then you cannot opt for 44AD for next 5 FY's from AY 19-20.
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