Audit 44AB(e) Mendatory

Sir,

FY 2020-21 Turnover 50 Lacs Net profit 5 Lacs 94 thousand filed ITR under section 44AD. FY 2021-22 turn over 76 Lacs net Profit 3 Lacs 21 thousand filed ITR under section 44AB(e) FY 2022-23 Turnover over 17 Lacs profit 4 Lacs so can we go for 44AD

please suggest
Replies (6)
Quick Summary
This discussion addresses a taxpayer's query about reverting to Section 44AD after previously filing under Section 44AB(e). The consensus suggests that once Section 44AD is opted out of, it cannot be chosen again for five years. Furthermore, even with a turnover exceeding certain limits, an audit under 44AB(e) might not be mandatory if the income does not exceed the basic exemption limit, though expert opinions are sought.

No you can't opt sec 44ad bcoz once a 44ad lapse you can't opt 44ad for 5 a.yr. . and also you don't need too audit us 44ab bcoz your income exceed basic exemption limit

You can but not liable i think.Even I am eagerly waiting for the experts' comments on this.

You have to file ITR with tax audit u/s. 44AB(e) IT act...

Yes, I agreed with Mr Dhirajalal Rambhia Sir...
Thank to all of you

You are welcome.     

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