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44 AD for 5 consequitive years
what if we dont follow 44 Ad for consequitive 5 years, we required to get our books audited even if turnover is less than 2 crore, if we opt out of scheme before 5 years
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madam couldn't understand the question properly can you elaborate
If u opt out of scheme specified us 44AD before 5 conse. yr then u will be liable to audited his books and account even if ur turnover does not exceed 2 crore .
tax Audit compulsory for 5 Cons. years
tax Audit compulsory for 5 Cons. years
You can opt for presumptive and if you opt out of presumptive then you can not opt again for 44AD for next five consecutive yrs
Yes... If u don't follow consecutive 5 years presumptive taxation... When u opt out before 5 years.. Then u r liable for tax audit only if ur total income exceeds exemption limit... And also u r not eligible for opt presumptive taxation next 5 years
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