Applicability of section 44AB & 44AD for AY 2018-19
This query is : Resolved
22 July 2018
An Individual/Firm carrying on business/profession whose turnover does not exceeds ₹ 1 crore and incurred loss in the previous year.
Whether Individual/Firm have to get his accounts audited,if i cannot opt under 44AD/44ADA?
Please suggest me.
23 July 2018
Tax audit not applicable in case of no taxable income
23 July 2018
Thank you sir
23 July 2018
For last 4 years I applied Section 44AD and for current year I was filed under above scenario (An Individual/Firm carrying on business/profession whose turnover does not exceeds ₹ 1 crore and incurred loss in the previous year.)
Can I adopt section 44Ad for next year if applicable?bcse I cannot adopted section 44AD in the 5th year
23 July 2018
Next 5 years including the current one you can't opt 44AD.
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
- Minor - PPF Rules Doubt
- Query regarding applicability of UDIN on MCA forms signed using DSC by a Chartered Accountant
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Spice form, ? mark comes in address
- 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
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
