Re entry to 44ad after compulsory audit

Batla (Consultant) (37 Points)

10 August 2019  

If an assessee is forced to exit 44AD due to an increase in turnover i.e. above 2 Crore/Compulsory Audit. If next year the turnover does not require Compulsory audit(below 1 Cr.) ...can a re-entry to 44 AD be allowed?
 

Case:-

Turnover 2016-17    -  50 lacs   -   opted 44AD
Turnover 2017-18    -  3.5 crore audit
Turnover 2018-19    - 80 lacs
Whether opt section 44AD for F.Y.2018-19  ?