Section 44ad
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 June 2017
In financial year 2014-15 and 2015-16 I had opted for section 44AD(1). In financial year 2016-17, I declared profit less than 8% and hence audited the books of accounts u/s 44AB. Can I opt 44AD(1) in financial year 2017-18 and on wards.
16 June 2017
unfortunately no. you cannot change position for next 5 assessment year. Read the https://cleartax.in/s/section-44ad-presumptive-scheme
16 June 2017
Since you opted for regular scheme, now you can opt for presumptive basis.
16 June 2017
You cannot change position for next 5 assessment year. I agree with the reply of Mr.Nikhil Kaushik.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS 194-T applicability
- Tds on commission charges
- GST ITC REVERSE
- Fixe term employment
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- TDS on TRUST
- Withdrawal in cash from partners capital account by partner
- TDS on Complimentary "Desi Ghee and Gold Coin" Provided to KBC Contestants
- Section 50-fixed asset-->building ceases to exist
- Regarding Applicability of Tax Audit u/s 44AB
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
