ITR u/s 44ADA
This query is : Resolved
Sukhveer Singh
(Querist)
30 September 2021
is the provision of section 44ad(4) i.e. declare profit for the five assessment year, also applicable on 44ADA? If one person files a return under section 44ADA for the financial year 2018-19 and opt-out from 44ADA for the financial year 2019-20 and files ITR 3 (maintenance of books of accounts.) Can he file a return again under section 44ADA for the financial year 2020-21? Kindly clarify.
Dhirajlal Rambhia
(Expert)
30 September 2021
No. sec 44AD(4) not applicable in this case; nor any such rule applicable in sec. 44ADA.
Assesses are at liberty to choose Sec. 44ADA in a year without any liability of opting it or not, in preceding year/s.
Assesses are at liberty to choose Sec. 44ADA in a year without any liability of opting it or not, in preceding year/s.
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