Income Tax Return for AY 2019-20

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Gaurav Goyal (Querist)
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30 December 2019 Sir, I had a total turnover of 1,17 crores during FY 2018-19. I had been filing my returns u/s 44AD in the previous years but this year as my bankers forced me to have a detailed income tax return with balance sheet and profit & loss, I got the return filed accordingly. But now I got the message that my return is defective as I didn't file tax audit report.

I am unable to understand this as I was confident that since my turnover in below 2 crores, I need not get my accounts audited and file tax audit report. Please advice what I should do now. Thanks in advance...

swasti

swasti (Expert)
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31 December 2019 Have you filed the return for AY 2019-20 also under 44AD? As could be understood, perhaps not. Section 44AD provides that tax audit is not compulsory for those, whose total turnover or gross receipts in the previous year does not exceed an amount of 2 Crore rupees. But if not filed under this section, then limit is 1 Crore Rupees. Since you might not have opted Sec 44AD and the turnover exceeds Rs 1 Crore, hence the message have come.

RAJA P M

RAJA P M (Expert)
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31 December 2019 Which ITR you filed for AY 19-20...?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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14 October 2021 The case could also be seen under the lens of opting out sec. 44AD before completion of five years.

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