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IncomeTax-Opt for 44AD or regular

23 August 2018

Sir,
I first year businees my turnover is ₹5Lakhs ITR find for opt for 44AD (AY-201819)
then next year (AY-201920) I ITR filing for regular?

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21 Replies

CA Bhavik Soni (867 Points)
Replied 23 August 2018

your query is not clear. although once you opt 44AD then up to 4 more years you have to file return in 44AD. and suppose in between you offer less than 8% profit and go for audit then up to next five consecutive years you can not re enter in 44AD

hope your query resolved

3 Like

NANDISHA H (38 Points)
Replied 23 August 2018

Thank you sir...

CA P V N Varma (CA ) (609 Points)
Replied 23 August 2018

I agree with Bhavik Soni

Anush Ram (160 Points)
Replied 23 August 2018

@ bhavik soni.....👌👌👌👌explanation

1 Like

Madhu S (11 Points)
Replied 23 August 2018

I have opted to 44ada (professional 50%) for the AY 2017-18, now I am opting to 44ab I for the AY 2018-19 . Can I opt again to 44ADA for the AY 2019-20?

RAJA P M ("Do the Right Thing...!!!") (127177 Points)
Replied 23 August 2018

No...
If You are opt out Ay 18-19 then You can't opt 44ad to next 4 Years...

(Guest)

Agreed with Shri Raja P M

Aliasgar Samniwala (118 Points)
Replied 23 August 2018

5 years limit is not applicable in case of 44ADA. you can opt again 44ADA in AY 2019-20.

1 Like

(Guest)

MCA UPDATE 😊 ■ MCA has extended the last date of filing DIR -3KYC without any filing fees upto 15/09/2018 from 31/08/2018. ■ The fees of ₹5,000/- shall be applicable & payable on all delayed filings w.e.f 16/09/2018.

1 Like

CA Bhavik Soni (867 Points)
Replied 23 August 2018

mr raja p m, madhu is asking about 44ADA and you are denying for 44AD.

madhu, there is no such restrictions of 5 years in 44ADA, it is very clear.

RAJA P M ("Do the Right Thing...!!!") (127177 Points)
Replied 23 August 2018

Yes... I know @ Madhu asking about 44ada and replied same to 44ada. Above my reply missed "a" in that 44ad. It's wrongly taken my mobile dictionary.... Plea read that 44ada. I wrongly typed 44ad...

CA Bhavik Soni (867 Points)
Replied 23 August 2018

Mr raja p m, i suggest to refer sec 44ADA again. There's no such restriction like 44AD.

RAJA P M ("Do the Right Thing...!!!") (127177 Points)
Replied 23 August 2018

Bro, Once again I ask you about "What You mean Refer / Suggest to every one...?!" It's not good to Your profession. If You have different views then post your comments with rules and it's case laws or any others like details... I don't know how to refer a law..... So, and so if you have details then post here....

CA Bhavik Soni (867 Points)
Replied 23 August 2018

Same thing i wanna teach you, that is give respect to other. You started and i ended. See your reply first you did the same with me. Give respect and take respect. And suggesting and asking to refer is against profession ? From when ? Anyway, i still stick on my view. And i have no personal grievance with you bro. But i remind you again that you have started the same with me... Sorry if you hurts.