If for A.Y 19-20, ITR-3 filed for individual by filling PL & BS, can we file ITR R for next A.Y.s, by going under 44AD if turnover is within limit and profir is around 10-15%?
kindly confirm & guide.
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Replies (5)
You can opt for 44AD in next AY .
Pl inform what type of business activity you are carrying.
Pl inform what type of business activity you are carrying.
Retail shop of clothing.
You can file 44AD for the AY
@ Harshit
You can surely opt and file ITR under 44AD for FY 2019-2020 (AY 2020-2021)
But but
a) Turnover to be less than 2 crores
b) profit to be 6%( digital)and/or 8% (cash) minimum on turnover OR actual profit whichever is higher.
c) Filing of ITR4 Sugam (advisable)
You can surely opt and file ITR under 44AD for FY 2019-2020 (AY 2020-2021)
But but
a) Turnover to be less than 2 crores
b) profit to be 6%( digital)and/or 8% (cash) minimum on turnover OR actual profit whichever is higher.
c) Filing of ITR4 Sugam (advisable)
Ok. Thanks , I hope there is issue if ITR 3 was filed for AY 2019-20.
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