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INCOME TAX AUDIT

This query is : Resolved 
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(Querist)
24 October 2020 SIR,
My query is as below:
A.Y.2018-19 TURNOVER RS.40 LACS RETURN FILE UNDER SECTION 44AD
A.Y.2019-20 TURNOVER RS.1.80 LACS AUDIT DONE UNDER CLAUSE 44AB(a) because turnover exceeding specified limits.
now A.Y.2020-21 TURNOVER RS. 30 LACS. Whether I can File i.t.return under section 44AD FOR A.Y.2020-21?
note: I have done audit for a.y.2019-20 under clause 44AB(a) but not under clause 44AB(e) because my turnover exceeding Rs. 1 crore for that year?
Please reply fast.
it's urgent
kindly reply above query whether should go for audit or not?
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CA Rashmi Gandhi

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CA Rashmi Gandhi (Expert)
31 January 2021 You have to get your accounts audited under Sec 44AB as if you opt out of Sec 44AD then you can't opt for next 5 years
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