audit u/s 44ad

Others 207 views 2 replies
asseesse has turnover of rs. 90 lakhduring a.y.2018-19 and he gets his accounts audit u/s 44ad. now in the a.y. 2019-20 his turnover only Rs.30 lakh. he has no other income. question is that he is liable to audit for 5 consecutive years or not?
Replies (2)

Yes, as per combined reading of Section 44AD(4) & 44AD(5) (subject to total income exceeds the maximum amount which is not chargeable to income-tax)

1. Yes, according to sec 44AD(4) any eligible assessee who is has availed the benefit of presumptive taxation will need to follow the same for 5 consecutive AY. 
2. In your case, you need to compute profit as per sec 44AD for 5 consecutive AY (2019-20 to AY 2023-24) 
Please correct me if the above solution has an alternative view. 


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
22 May 2026
U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details
Company
24 May 2026
Accounts & Tax Executive

PARAS KHURANA AND CO

New Delhi

B.Com

View Details
Company
29 May 2026
Accounts assistant

Shubh Consultancy

Mumbai

Graduate (Any)

View Details
Company
Featured 28 May 2026
SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

T R SOOD & CO

New Delhi

CA Inter

View Details
Company
23 May 2026
Article Assistant

Geeta Manchanda & CO.

New Delhi

CA Inter

View Details
Company
19 May 2026
Fundraising Expert

MentorsWorld Ventures Private Limited

Ahmedabad

Others

View Details
Company
27 May 2026
Audit Assitant

Virender K Gupta and Co

New Delhi

B.Com

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details