If a person has turnover of ₹ 1,20,00,000/- in 2017-2018 and has shown income u/s 44AD. In 2018-19, he has a turnover of ₹ 1,80,00,000/- and shown income as per audited accounts. In 2019-20, he has turnover of ₹ 80,00,000/-.
Now my question is that whether in 2019-20 he has to audit his account or he can show his income as normal business income
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44AD Income
Replies (1)
You can not switch to presumptive scheme for 5yrs, once you get your accounts audited.
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