Audit 44Ad
anand sarda (35 Points)
14 August 2018
Sir if assessee has opted for Audit U/s 44Ad in F.Y. 2016-17 can he opt for presumptive taxation scheme in F.Y. 2017-18?
4 Replies
Pratik Surve
(Assistant Professor )
(571 Points)
Replied 14 August 2018
YES YOU CAN. IN FACT ONCE YOU OPTED 44AD SCHEME, THEN YOU HAVE TO CONTINUE THE SAME FOR THE SUBSEQUENT 5 YRS.
RAJA P M
("Do the Right Thing...!!!")
(128101 Points)
Replied 14 August 2018
| Originally posted by : Pratik Surve | ||
 |
YES YOU CAN. IN FACT ONCE YOU OPTED 44AD SCHEME, THEN YOU HAVE TO CONTINUE THE SAME FOR THE SUBSEQUENT 5 YRS. |  |
Can You explain "AUDIT U/S 44AD"?
Pratik Surve
(Assistant Professor )
(571 Points)
Replied 14 August 2018
If you asking about audit u/s 44AD then it's wrong. As per 44AD if your profit comes less than 8% then you have to get audited your books of account u/s 44AB
Nikhil Kaushik
(Fellow CA)
(86531 Points)
Replied 15 August 2018
you can go for presumptive taxation this year. But then you should be ready to stay with it for next five years.
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