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1st time tax audit done then is it compulsary to do for more 5 years?
If Tax Audit is done for 1st time then is it compulsary to do tax audit for 5 years? And if yes, then u/s which section thus this clause has mentioned ?
Replies (1)
No, there is no such compulsion.
I think the following has raised your doubt…
An eligible assessee who declares profit as per Sec. 44AD and in any subsequent year does not opt for Sec. 44AD then for subsequent 5 years he can’t opt for 44AD.
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