Tax Audit or Declaration U/S.44AD


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A client who has been filing their Income Tax Return (ITR) based on a tax audit for the past five years wishes to declare their income under Section 44AD for the current financial year. The query asks if there are any restrictions on this change. The response indicates that there are no general restrictions, provided the previous tax audits were not specifically conducted under Section 44AB(e) of the Income Tax Act.

01 October 2024 One of my client has been filing his ITR after Tax Audit since last 5 years. This year i.e. FY 2023-24, he decides to declare his income u/s. 44AD . Is there any restriction on this ?

01 October 2024 No restrictions, unless the tax audit carried earlier were under sec. 44AB(e) IT act.

11 October 2024 Good luck ....


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