Assessee filed ITR u/s 44AD in F. Y. 2016-17, 2017-18 and turnover was below 1crore.
In F. Y. 2018-19 assessee choose 44AB audit and the turnover below 1 crore.
There is any problem to choose 44AB audit in this year
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44AD block period
Replies (4)
( In F. Y. 2018-19 assessee choose 44AB audit and the turnover below 1 crore.
There is any problem to choose 44AB audit in this year )
As per Your query Assessee choose Audit u/s 44ab in FY 18-19 then He will file his ITR continueosly in same as above to Five FY...
There is any problem to choose 44AB audit in this year )
As per Your query Assessee choose Audit u/s 44ab in FY 18-19 then He will file his ITR continueosly in same as above to Five FY...
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Since you have opted to carry out audit under 44AB despite being qualifying under 44AD and not requiring tax audit,,
your voluntary action will be treated as exiting from 44AD.
You are thus opting out of 44AD. And the result is you won't be able to go for 44AD for next 5 years.
your voluntary action will be treated as exiting from 44AD.
You are thus opting out of 44AD. And the result is you won't be able to go for 44AD for next 5 years.
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