Opting out of section 44ad for business

This query is : Resolved 
 


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



CA R SEETHARAMAN (Expert)
07 December 2017

It is correct as you have opted out before the rule came in

B.Chackrapani Warrier (Expert)
07 December 2017

Section 44AD(4) says so as you heard.



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