Section 44 ad
This query is : Resolved
Ranjit Shitole
(Querist)
02 March 2018
if for for ay 2017-18 assessee file return u/s 44 AD and shows profit below 8% and get books of accounts audited so for AY 2018-19 can he opt out of 44AD.
CA R SEETHARAMAN
(Expert)
02 March 2018
Yes he can opt out of 44AD from AY 2018-19.
Nikhil Kaushik
(Expert)
03 March 2018
however, please note that in such a case such an assessee won't be eligible to claim 44AD benefits for next 5 years if he goes for audit in AY 2018-19.
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