IT filling Ass yr 20-21 reg
This query is : Open
J DAMODARAN
(Querist)
16 December 2020
Dear Sir,
A Individual filled his IT in 44AA for the past 2 year Ass yr 2018-19 & 2019-20.
Can he fill IT in 44AB in Ass yr 20-21 . If so what will be consequence. Please clarify
Thanks
A Individual filled his IT in 44AA for the past 2 year Ass yr 2018-19 & 2019-20.
Can he fill IT in 44AB in Ass yr 20-21 . If so what will be consequence. Please clarify
Thanks
CA Ankith Jain
(Expert)
17 December 2020
Yes, you could file under 44AB, provided your turnover is above 1cr and get your books audited by a CA. If you file under 44AB for AY 2020-21, then you not be able to take benefit of 44AD for next 5 years.
You could contact caankithjain@gmail.com for any assistance.
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