44ad

This query is : Resolved

tony (Querist)
Follow

14 January 2021 Dear Sir,
In fy 2018-19 turnover was 1.5 crore and asseessee had audit . and in fy 2019-20 turnover is only 20 lacs.
Whether assessee can opt 44AD in fy 2019-20 ?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

14 January 2021 In case he opted out of 44AD last year he can't opt it now.

tony

tony (Querist)
Follow

14 January 2021 even the income is below taxable limit ?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

14 January 2021 Tax audit not applicable in such a case but 44AD can't be opted.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Samruddhi Agrawal

SANJAY GOSALIA

damodara rao tedla

Rishi Jain

Sagar Goyal

Subscribe Now

44ad

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Accounts, Audit & Compliance Executive

Accounts & Tax Executive

SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

Account Executive

Accounts assistant

CA ARTICLE

Article Assistants

Audit assistant