Tax audit
This query is : Resolved
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 ?
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
(Expert)
11 March 2018
while it is possible, please do consider the impact section 44AD(4) before finalising your tax position
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 ?
Oris it applicable only when a presumptive tax payer changed to audit under section 44 AB ?
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