Applicability of section 44AD(4)
This query is : Resolved
07 October 2019
Dear Sir/Madam,
I have a query in respect of applicability of section 44AD(4)
If an individual had his accounts audited u/s 44AB not beacause of turnover exceeds 1 crore but to show lower profit rate (say less than 6%-8%) for financial year 2016-17 and 2017-18 can he opt to file his incone tax return u/s 44AD for financial year 2018-19??
Please do guide.
I have a query in respect of applicability of section 44AD(4)
If an individual had his accounts audited u/s 44AB not beacause of turnover exceeds 1 crore but to show lower profit rate (say less than 6%-8%) for financial year 2016-17 and 2017-18 can he opt to file his incone tax return u/s 44AD for financial year 2018-19??
Please do guide.
07 October 2019
Provided his turnover for financial year 2018-19 is 1,10,00,000 rupees
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