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
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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