Doubts on presumptive taxation

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This query is : Resolved

Pushpak Lal (Querist)

23 November 2017 I have two cases. Both with relevant to section 44ADA ,- 50% deemed income

First case - A doctor earning professional income. For the last ten years I have been filing return under normal provisions by preparing balance sheet and profit and loss. Is there any problem if I suddenly take up presumptive taxation ?. If for AY 2017-18 I adopt presumptive income, next year I want to adopt normal provisions do I have to audit the books ?

Case 2-
The client is a chartered accountant. Already filed his return for Business and profession under normal provisions. Can I revise the return to file a presumptive tax return ? Will it create any problem?. Because it saves a lot of tax for him.

Thanks in advance

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

24 November 2017 1 Audit applicable only if you declare less than 50% profit in next year.
2 You can revise the return to Presumptive tax no problems.

CS Advocate Abhishek Goyal

CS Advocate Abhishek Goyal (Expert)

24 November 2017 1. There is no problem if you suddenly file return u/s 44ADA, next year can adopt normal provisions as there is no such bar in section 44ADA.

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