Audit or 44 AD


This query is : Resolved 

Quick Summary
If your business turnover was 1.7 crore in FY 2018-19 and required an audit, but dropped to 30 lacs in FY 2019-20, you may be able to opt for Section 44AD. Declaring an 8% profit and filing under ITR 3 should avoid the need for a formal audit. This is generally preferable to ITR 4, which is specifically for presumptive income schemes.

18 November 2020 Dear sir,
In fy 2018-19 turnover was 1.70 crore and had audit. Now in fy 2019-20 turnover is only 30 lacs, whether can opt section 44AD or had go for audit?

19 November 2020 Declare 8% profit file ITR 3 no audit required.

25 November 2020 itr 3 or 4 ? as itr 4 meant for presumptive income.

25 November 2020 File ITR 3............


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now



Similar Resolved Queries


loading


Unanswered Queries



CCI Pro



Answer Query



Company
20 July 2026
Senior GST Executive

Chandak Agarwal & Co

Mumbai

Graduate (Any)

View Details
Company
16 July 2026
CA Inter, CA Intermediate, CA IPCC, CA CPT , CA SemiQualifie

Vakilsearch.com

Chennai

CA Inter

View Details
Company
23 July 2026
CA Inter

Vikram Jadhav and Company

Pune

CA Inter

View Details
Company
14 July 2026
Senior Executive/ Manager

H S SHARMA AND CO

Pune

CA Final

View Details
Company
ARTICLESHIP 23 July 2026
Article

Gianender & Associates

New Delhi

CA Inter

View Details
Company
Featured 16 July 2026
Semi Qualified Company Secretary

Vakilsearch.com

Chennai

CS

View Details
Company
11 July 2026
CA semi qualified

Vakilsearch.com

Chennai

CA Inter

View Details
Company
13 July 2026
AVP / VP - PCG Advisory

Workforce Connect

Mumbai

MBA

View Details
Follow