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44AD to 44AB
For the A.Y.2017-18 my client's Turnover was 30 lakhs and I have filled the IT returns u/s 44AD and this is his very first IT returns and also under individual status. But for the A.Y.2018-19 his turnover is 1 crore 80 lakhs weather I can file the returns u/s 44AB as the previous one was his very first return.
Replies (4)
Yes, you can with mandatory tax audits of the accounts for 5 years, starting AY. 2018-19.
you can opt for 44AD or normal provisions of act, subjecting your books of accounts for audit
I think the same thing applies for partnership firm also
Yes, being 'Eligible Assessee' for sec. 44AD
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