Return filed u/s 44ADA instead of 44AD

This query is : Resolved

Keyur (Querist)
Follow

01 October 2020 One assessee filed I.Tax return under 44AD for the year 2018-19 who is an interior designer by mistake under other contractor business.
Now i want to file I.Tax return u/s-44ADA for the fy-2019-20 under Architecture Service and declared more than 50% profit of total turnover.
It is possible or not??

Need to file u/s 44AD instead of 44ADA bec.only 1 year return was filed u/s 44AD and as per income tax rules minimum 5 year to be filed u/s 44AD!!

Clarify on priority basis

Read more at: https://www.caclubindia.com/experts/ask_query.asp

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

01 October 2020 It's possible to file ITR under 44ADA.
No time limit applicable for comming out of 44AD, any time we may come out but for opting back 5 years time limit applicable in case of 5 years 44AD not continued.

Keyur

Keyur (Querist)
Follow

01 October 2020 Warmly thanks sir for prompt reply...

As Architecture Service 44AD is not applicable as per provision of I.Tax Act.

Last year we are made mistake for selecting section.

agains thank you sir

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

01 October 2020 You are welcome.......

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

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

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

Vishnu Agarwal

giriswar

Narasimha Murthy

Ashish

BIBIN KUMAR

Subscribe Now

Return filed u/s 44ADA instead of 44AD

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA