Ifos

S ELAVARASI

ACCOUNTANT

2975 Points Posted on 22 July 2018

In normal assessment u/s 44aa can will show profit Rs.4.5lakhs?

S ELAVARASI

ACCOUNTANT

2975 Points Posted on 22 July 2018

Sir., in case any other Business (if eligible business) then can i move itr 4 (as per my query itr 4s ay 15-16, itr 4 16-17 & itr 3 17-18 now itr 4 AY 18-19?

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

211715 Points Posted on 22 July 2018

Yes, you can opt in for presumptive assessment for any 'eligible business'; but keep locked in for 5 years.. (not advisable to opt out)

S ELAVARASI

ACCOUNTANT

2975 Points Posted on 23 July 2018

Thank you for the Replies Sir...

S ELAVARASI

ACCOUNTANT

2975 Points Posted on 23 July 2018

(not advisable to opt out) If books having but not satisfied as cash expenses, Bank Deposit/Credits cant find out from which customer given that amounts. So,i fully confused...

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

211715 Points Posted on 23 July 2018

No restriction for opting sec. 44AD, and is good for such contractor business, who do not maintain any records ....... so, easy to file ITR....... only when you opt out or go for normal assessment then only restriction applied. So, continue with presumptive......