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Section 44AD

06 December 2018

If i choose to pay tax as per 44AD
but after 2 years my turnover crosses 2 Crore, will i still not be allowed to take 44AD for 5 years if my turnover falls below 2 crore?

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4 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (166601 Points)
Replied 06 December 2018

You will be allowed to opt for presumptive taxation, as you had not opted out by choice.

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Vedant Khanna (374 Points)
Replied 06 December 2018

So the restriction of 5 years ends if i become ineligible for presumptive taxation in between those 5 years right?

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (166601 Points)
Replied 06 December 2018

Yes, correct ...

"So the restriction of 5 years not applied, if one become ineligible for presumptive taxation in between those 5 years"

3 Like

Vedant Khanna (374 Points)
Replied 06 December 2018

Okay. Thank you sir😊

1 Like

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