Can I change nature of business from 44ADA TO 44AD? As I filed ITR in AY-2018-19 Under section 44ADA. Now can I file ITR for AY-2019-20 u/s 44AD ? If answer is YES then will it be the case of opt-out from the scheme and will attract the penalty of - “presumptive taxation scheme will not be available for him for next 5 years.”
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Can i change nature of business from 44ada to 44ad?
Replies (2)
What is the nature of business/profession?
Is it the activity same, which was declared under sec. 44ADA in last ITR?
16019 - Other professional services n.e.c.
But in AY-2019-20 this code is not showing under 44ADA.
I do miscellaneous work like- software development, ID CARD supply to schools, SMS and WEB Hosting services etc.
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