44ad not opting

last year my turnover was less than 2 cr so i opt for 44ad. this year also turnover is below 2 cr .but i dont want to opt for 44ad but declare profit more than 8% .can i file not opting 44 ad??..pls rply thanks in advance.
Replies (2)
Quick Summary
This discussion explores whether a business owner with a turnover under ₹2 crore can choose not to opt for Section 44AD of the Income Tax Act. The user wants to file a normal business return and declare a profit higher than the presumptive 8%, primarily because some banks are hesitant to accept returns filed under 44AD. The advice suggests that if they haven't opted out previously, they can likely continue with 44AD and declare a higher profit, or even opt out to file a regular business return.

Depends on how many years you have opted for 44AD already.

But it seems like you can still continue with 44AD and declare a higher profit. You can even declare 100% profit!

Unless you have a specific reason to opt out, may as well continue with it.

Some bank not accepting 44 ad return so i want to file normal business return declaring higher profit...ghat is the reason

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register