Query regarding filing of return u/s 44ad
This query is : Resolved
RAHUL WADHWANI
(Querist)
12 June 2017
Dear Sir/Mam,
If my client has covered under audit in A.Y. 2015-16 and now he wants to file return u/s 44AD in A.Y.2016-17 as his gross receipts is less than 1 Cr.
Can he do so, If yes what is its implication in future years.
Please resolve it on urgent basis.
Thanks in Advance.
If my client has covered under audit in A.Y. 2015-16 and now he wants to file return u/s 44AD in A.Y.2016-17 as his gross receipts is less than 1 Cr.
Can he do so, If yes what is its implication in future years.
Please resolve it on urgent basis.
Thanks in Advance.
CA R SEETHARAMAN
(Expert)
12 June 2017
Yes he can do so. In future he opts out of 44AD he can't opt it again for next five years.
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