Tax audit

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Hari Nair (Querist)
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11 March 2018 A person is filing tax return u/s 44 AB for last 4 years with 3 CB-3 CD

This year his turnover is less compared to previous year and he is ready to file return under presumptive basis

Is it possible ?

Nikhil Kaushik

Nikhil Kaushik (Expert)
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11 March 2018 while it is possible, please do consider the impact section 44AD(4) before finalising your tax position

Hari Nair

Hari Nair (Querist)
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11 March 2018 thank you sir .. If he opts for presumptive he will continue in presumptive 5 Years ?

Oris it applicable only when a presumptive tax payer changed to audit under section 44 AB ?

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