Section 44ab and AD

Varun Arora (CA Practice ) (48 Points)

07 May 2018  
Financial Year 2013-14 : Turnover Less than 1 Cr : Opted for Section 44AD.

Financial Year 2014-15 : Turnover Less than 1 Cr : Opted for Section 44AD.

Financial Year 2015-16 : Turnover Less than 1 Cr : Opted for Section 44AD.

Financial Year 2016-17 : Turnover Less than 2 Cr : Opted for Section 44AD.

Financial Year 2017-18 : Turnover more than 2 Cr : Not Eligible for Section 44AD, Conduct audit under section 44AB.showed profits more than 8 % of turnover.

Financial Year 2018-19 :  ExpectedTurnover Less than 2 Cr : Can Re-Opt for Section 44AD????