Menu
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.
Recent Threads
- Form 16 format
- 17(5) Blocked ITC
- Transfer of equity shares to original owner
- Login credentials and payment acknowledgement not
- Export sales not realised payment not received fro
- Capital gain account amount utilisation
- Form 26QB – Section 194-IA: TDS on Full Cons
- Indexation Benefit available or not on Calculation
- Documents for return exhibition material
- Can I set off equity losses(both short term loss a
Related Threads
CAclubindia
