ITR filing Under 44AD

This query is : Resolved

Guest

Guest (Querist)

27 July 2023 My client had been opting 44AD from 17-18 financial year for his income tax filing. Can he opt out from 44AD scheme for his 22-23 FY income tax filing? Does this five year rule of consecutive 44AD filing includes the first year of 44AD filing ie 17-18 FY? Or this five year consecutive 44AD filing range from 18-19 FY to 22-23 FY? Experts please advice.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
Follow

27 July 2023 Five consecutive years starts from AY 18-19 and ends at AY 2022-23. So, for AY 2023-24 he can opt out without any consequences.

Guest

Guest (Querist)

27 July 2023 Can one continue 44AD in 23-24 AY?

Guest

Guest (Querist)

27 July 2023 Thank you sir for this sudden response

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
Follow

27 July 2023 Yes, you can continue with Sec. 44AD IT act, without any restriction.

Guest

Guest (Querist)

27 July 2023 Thanks again sir for this expedited response

Message likes : 1 times

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
Follow

27 July 2023 You are welcome.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Hanuma Yanduri

Jai Solanki

George Innocent

Ravikumar

sandhya.v

Subscribe Now

ITR filing Under 44AD

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANCY

GST CONSULTANT

CA Final

Senior Executive

Manager- Finance and Compliance

Accountant