44AD- Applicability of 44AD(4)

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38 Points Posted on 11 October 2021
I had reported income u/s 44ad for the p.y. 17-18. In next two years I voluntarily opted for audit. No in the p.y. 20-21 I want to report the income under section 44ad. Will it be violation of sub section 4 of sec 44AD?
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On 11 October 2021 at 18:54 Report
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This discussion clarifies the applicability of Section 44AD(4) of the Income Tax Act. If you previously opted for Section 44AD and then chose to undergo an audit in subsequent years, you are generally restricted from opting back into Section 44AD for the next five years. Attempting to do so would likely be a violation of subsection 4.

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SEO Sai Gr. Hosp.
212535 Points Posted on 11 October 2021

Yes,

You cannot opt in Sec. 44AD for next 5 years, once opted out.

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On 11 October 2021 at 19:47
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Chartered Accountant
24588 Points Posted on 11 October 2021
Yes it will violate
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On 11 October 2021 at 20:56

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