A Partnership firm set up in the year 2019 did not opt for 44AD from FY 19-20 to FY 22-23. For FY 22-23 turnover is more than 2cr and maintained books of accounts till FY 22-23. Can it opt for section 44 AD in FY 23-24 (AY 24-25) if its turnover is less than 3 crores?
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A firm never opt 44AD from inception last year tax audit done can opt 44AD for FY 23-24
Replies (1)
Yes if all the conditions is followed.
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