applicability of Presumptive taxation 5 years limit
This query is : Resolved
CA. NIKHIL CHITTORA
(Querist)
15 February 2017
1.I have chosen presumptive taxation U/s 44Ad for A.Y. 16-17.For A.Y. 17-18 I would go for tax audit. Can I go for presumptive taxation for A.Y 18-19 and further years????
KAVIRAJA ADDANGADI
(Expert)
15 February 2017
Yes, if you are declaring less than the Presumptive income definitely you have to go for tax audit, if you declare income based on presumptive income or more than the % prescribed but not opt sec 44AD, you can get books audited u/s 44AB.
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