ITR for 44AE

This discussion clarifies whether an assessee who previously filed under Section 44AE can continue using presumptive taxation after selling a vehicle. It explains that opting for presumptive taxation under 44AE typically requires continuation for five years, but this restriction applies to Section 44AD, not 44AE. If you discontinue 44AE, you cannot opt for it again for five years. The thread also touches upon the implications for profit and gains under PGBP and the conditions for claiming lower profits via audit.