Tax Audit

This query is : Resolved

SRIKANTA (Querist)
Follow

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)
Follow

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.

Message likes : 1 times

SRIKANTA

SRIKANTA (Querist)
Follow

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)
Follow

18 November 2020 File ITR 3 if you have opted 44AD year before last year.

Message likes : 1 times

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Aakash Kumar

Devendra Singh Jyala

MAYUR

Sivakumar

DHRUV PATEL

Subscribe Now

Tax Audit

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA