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about section 44AD ITR4S

Govind Shinde (8 Points)

19 August 2017

how many consecutive years i can file return in itr4s u/s44ad

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3 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160332 Points)
Replied 19 August 2017

No restriction in continuation of filing u/s. 44AD.

But if not filed in any particular year by your own (before five years), then there is restriction for mandatorily non filing (u/s. 44AD) upto next four years.

CA Raghavendra Chakka (Searching for job) (95 Points)
Replied 19 August 2017

As per sub section (4) of 44AD

If you are opting for presumptive scheme, you must

File presumptive scheme for atleast 5 years in continuation
If you decide to show and file profits as per regular business before the end of these 5 years, you will lose presumptive benefits and disallowed from presumptive taxation for the subsequent 5 years. (5 years shall be counted starting the year in which you first file usual taxes for such business).