I am a trader, I made a turnover of Rs. 1.5 cr 1.7 Cr for the AY 2018-19 & AY 2019-20, so I filed Income tax return u/s 44AD. during the AY 2020-21 I made a turnover of Rs. 2.5Cr and filed tax audit report. but during the current year my turnover is Rs. 1Cr. can I file Income tax return U/s 44AD or do I need to file a tax audit report?
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Income Tax Section 44AD
Replies (2)
Quick Summary
You should continue to file ITR u/s. 44AD of IT act..
Once you filed Tax audit report under 44AB you should continue in 44AB
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