Sec 44ad(4)

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

05 November 2016 Hello All,
If an assessee is eligible for sec 44AD in AY 2017-18 but inspite being eligible he has not opt sec 44AD in AY 2017-18 pls clarify as per amendment in sec 44AD weather this assessee shall not be allow to opt sec 44AD from AY 2017-18 To 2021-2022 irrespective of weather eligible or not,

Pls clarify weather the above interpretation is correct or not,

Thamks & Regards
Atul Goswami

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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05 November 2016 Your interpretation is right if you have opted for 44AD in AY 2016-17 and coming out of 44AD in AY 2017-18.

Querist : Anonymous

Querist : Anonymous (Querist)

05 November 2016 But sir this rule is effected W.e.f 1/4/2016 not from 1/4/2015 hence as per my knowledge irrespective of sec 44AD weather assessee opt or not in AY 2016-17 shall be allowed to opt sec 44AD in AY 2017-18 however from AY 2017-18 if the assessee has not opt sec 44AD in any AY then shall not be allowed to opt sec 44AD for the period of five year,

Pls correct me if my interpretation is wrong,

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