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Opting out of section 44ad for business

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Querist : Anonymous

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Querist : Anonymous (Querist)
07 December 2017 Dear all,
my client filed IT Return U/s 44AD for A.Y 2015-16 (turn over below 1 crore)

in A.Y 2016-17 & 2017-18 IT Returns were filed through tax audit (turn over below 1 crore)

Now again they want file their IT return u/s 44ad for A.Y 2018-19 (turn over below 1 crore)

Is it correct, because some one told me if once Opting out from this section, in next 5 years can not avail the 44AD section

please clarify mee
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
07 December 2017 It is correct as you have opted out before the rule came in
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
07 December 2017 Section 44AD(4) says so as you heard.




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