Audit requirement
This query is : Resolved
Altmas Khan
(Querist)
30 November 2018
If an individual gets its account audited under section 44abIn year 16-17 and till now he didn’t file his itr pertaining to year 17-18 will he is under obligation for audit in 17 -18 also if no then will in 17-18 he can opt for presumptive basis as for preceding the year 16-17 for successive two years he opted for presumptive basis ?
CA Shiv Kumar Sharma
(Expert)
02 December 2018
If you opt for Audit, then In Next 5 years who are required to audit. You cannot Adopt Sec -44AD
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