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

This discussion clarifies whether presumptive taxation can be chosen for FY 2020-21, even if the previous four years were subject to tax audits. It confirms that if your turnover for FY 2020-21 is less than 50 lakhs, you can indeed opt for presumptive taxation under Section 44ADA. However, be aware that choosing this route means you must continue with presumptive taxation for the next five years, including the current one.