Tax audit Opt Out

Trex Gaming_67 (243 Points)

31 July 2022  
year 1:
my Turnover was 20lakhs so I declared my income u/s 44AD and showed a profit of 8%.

Year 2:
my Turnover was 4Cr and suffered a heavy loss(-10% loss) So I got my books of accounts audited.

year 3:

in year 3 can I switch back to presumptive taxation??