44ad - presumptive taxation
This query is : Resolved
P.PERIASAMY
(Querist)
02 May 2017
My turnover for AY 2017-18 is below 2 crores and i declare income below 8% and get my books audited. For AY 2018-19 my turnover is assumed to be below 2 crores, in this case can I opt for presumptive scheme from AY 2018-19 as presumptive scheme can be opted at any time or I have to get my books audited as I have not opted for the scheme for AY 2017-18?
CA. Sunil Gokhale
(Expert)
02 May 2017
If you opt out of 44AD then you cannot use it for next 5 years.
CA. Sunil Gokhale
(Expert)
02 May 2017
If you opt out of 44AD then you cannot use it for next 5 years.
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