Tax Audit

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SRIKANTA (Querist)
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17 November 2020 Sir Last fy 2018-19 my turnover 87 lakh and filed tax audit return and shows @5% profit, but this fy 2019-20 is turnover decreased to 61 lakh and slab is also 5 lakh nil can file presumptive us 44ad @ 8% profit. is it mandatory to file five year tax audit. Can i file with out tax audit
Sir Which Form Itr3 Or Itr4
Last Year I filled with tax audit itr 3

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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18 November 2020 It's not mandatory to file five years tax audit. File ITR with 8% profit without opting 44AD in case you have opted out from 44AD in the previous year.

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SRIKANTA

SRIKANTA (Querist)
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18 November 2020 Sir Which Form Itr3 Or Itr4
Last Year I filled with tax audit itr 3

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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18 November 2020 File ITR 3 if you have opted 44AD year before last year.

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