Menu
Consequences of return filing procedure shifing from 44ab to 44ad
The assessee being a partnership firm previously filed the return of income under 44AB and now wants to file the return under 44AD as the turnover is less than Rs 1 Crore and net profit is more than 8%. Please suggest me regarding the same.
Replies (1)
As of my knowledge,there is no rule that once assessee has complied 44AB,he shall comply every year.Suppose he has complied 44AB in year-1 and the very next year his turnover is less than 1 crore he may free to opt 44AD.but you shold consider 44AA.
Recent Topic
- AIS UTILITY
- NPS Premature withdrawl -Tier 1 Account
- Provident fund taxation
- ITR3 AY 26-27 Error in filling status
- Queries on TDS as per IT
- Capital Gains set off on Sale of Land if held for
- ITR Form for income from freelance consultancy
- Gst rate for HSN code 28530010
- Health Insurance
- India GST Mobile App
Related Topics
CAclubindia
