27 August 2019
My client residential status for F.Y 2018-19 is NRI. In previous year, he was filing tax return u/s 44AD and was resident. In current year, his turnover is 33 lakh and profit around is around 3 lakh.
Is Tax Audit applicable for current year? I think no tax audit is applicable for F.Y 2018-19, since 44AD(5) is applicable to "Eligible Assesse" and NRI is not Eligible Assesse as per 44 AD. Please confirm.
CAclubindia
