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Section 44ADA & Tax Audit applicability

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(Querist)
29 September 2020 Respected Sir/Madam,

A person who is a CFA wants to claim Profit below the 50% of gross receipts during the year. He has not availed presumptive income section (Sec 44ADA)in any of the preceding years in his ITR. Should Tax audit applicable to him in current year considering the fact that he is claiming less profit mentioned u/s 44ADA?

Thank you
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
29 September 2020 Yes, Tax audit applicable to him in current year considering the fact that he is claiming less profit mentioned u/s 44ADA.
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