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Can we choose presumptive taxation for FY 2020-21 when previous 4 years were under tax audit.

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53 Points Posted on 15 December 2021
can we choose presumptive taxation for FY 2020-21 when previous 4 years were under tax audit. 2020-21 turnover is less than 50 lakhs.
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On 15 December 2021 at 18:25 Report
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SEO Sai Gr. Hosp.
211715 Points Posted on 15 December 2021

DO YOU MEAN TO SAY PRESUMPTIVE ASSESSMENT U/S. 44ADA?

YES, IF U/S. 44ADA OF IT ACT......

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On 15 December 2021 at 18:46
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CA
10436 Points Posted on 15 December 2021
Yes you can go for presumptive taxation
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On 15 December 2021 at 22:20
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Profession Business
28207 Points Posted on 16 December 2021
Presumptive taxation is not there.
However, there are certain instances where an assesse can choose itr 3
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On 16 December 2021 at 07:41
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CA
10436 Points Posted on 18 December 2021
Yes but you have to file return under presumptive basis for next 5 years including this year also.
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On 18 December 2021 at 23:12


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