For how long ITR filling under section 44AD is mandatory ?
This query is : Resolved
04 April 2021
Dear Sir/Mam,
I am filling ITR under section 44AD since FY 2017-18. And Now, I don't want to opt for 44AD. Can I do so ? I have heard that if once ITR under Section 44AD is filled then it is mandatory to file the same for consecutive 5 Years.
Please guide.
I am filling ITR under section 44AD since FY 2017-18. And Now, I don't want to opt for 44AD. Can I do so ? I have heard that if once ITR under Section 44AD is filled then it is mandatory to file the same for consecutive 5 Years.
Please guide.
05 April 2021
actually you are reading it wrong. You can choose not to file return under 44AD anytime you wish to. However, once you do so, you cannot come back to file the return under 44AD for another four years.
So the restriction is not on opting out of 44AD but on returning to it.
So the restriction is not on opting out of 44AD but on returning to it.
05 April 2021
Thank U Sir for making it clear...
05 April 2021
you are welcome Deepak.
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