Tax payer can file return under section 44AD, however he cannot loop out of 44AD for 5 years.
If 44Ad is not applicable then he cannot opt for 44Ad for next years.
I have a doubt regarding this.
One person was filing return under section 44AD, however last year his turnover was more than 2 crore, and he filed return after tax audit under section 44AB.
Now this year his turnover is less than 2 crore, so question is can he opt for 44AD?
| Latest response: 21/12/21 | Sort by