44AD
This query is : Resolved
27 October 2020
What if a firm opted for 44AD in FY 18-19 and its turnover crosses 2cr in 19-20 and liable for tax audit. Can the provisions of presumptive taxation be applied in 20-21? Or benefits under this section disallowed for subsequent 5 years?
CA R SEETHARAMAN
(Expert)
27 October 2020
In such a case the provisions of presumptive taxation be applied in 20-21.
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