I have a Query regarding one of my client.
In 2014-15, Turnover was 99,45,641 so dealt with 44AD .
In 2015-16, Turnover was 1,44,36,500 so Tax audit as per 44AB (1 Crore)
So 2016-17 , Turnover is 1,22,63,270
So my query is whether for 2016-17 Financial year whether should be filed return under Presumptive profit -44AD or Tax Audit- 44AB
Thank you,
Regards,
Ajay Miranda
But once not opted then next 5 AY you are not eligible for 44AD right? but 2016 Finance Act ammended 1 crore to 2 crore under 44AD.
As in 2015-16, not opted as amount exceeded 1 crore is it possible now ie 2016-17 to claim under
44AD even though ammended from 1 crore to 2 crore.
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