First Year Turnover: 3 Crore, Tax audit done
Suppose, In 2nd Year Turnover: 1 Crore
For 2nd Year: Tax Audit Applicable?
Not applicable for the 2nd year
Veera Veera (253 Points)
04 June 2021
Veera Veera
(253 Points)
Replied 04 June 2021
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 04 June 2021
No, in cases where the turnover has crossed the threshold, the assessee is not eligible for 44AD. In other words, the assessee here has not opted out but is ineligible. So I think you can opt for 44AD again.
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 04 June 2021
sabyasachi mukherjee
(27117 Points)
Replied 05 June 2021
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 06 June 2021
sabyasachi mukherjee
(27117 Points)
Replied 25 July 2021
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