44AD(4) compulsory audit
This query is : Resolved
09 September 2023
Assesses opted for 44AD in A.Y. 2017-18 and in A.Y.2018-19 Opted out so compulsory audit done from A.Y.2018-19 TO A.Y.2022-23. SO he can again opt for 44AD in the A.Y. 2023-24
09 September 2023
Yes he can opt for 44AD in 2023-24.
11 September 2023
Sub section (4) bars the option of 44AD for five years subsequent to the year in which assassee opted out of 44AD. So in totality bar works for 6 years (1 year in which assessee opted out + 5 subsequent years)
In your case 44AD will not be available for AY 2023-24. However you may opt it with effect from AY 2024-25.
In your case 44AD will not be available for AY 2023-24. However you may opt it with effect from AY 2024-25.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- TDS on Purchase of Immovable Property by NRI from NRI
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Stamp Paper for partnership firm change new income tax 2025
- Capital gain from sale of house property
- SFT Cash Deposit in Current Account
- Value of property in capital gain
- When TDS on GST applied
- Requirement of tax deduction at source by individual
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
