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An assessee has opted for Presumptive income while filing itr for A.Y 2019-20 so he has to continue it till A.Y 2023-24 ?? is it correct
Replies (2)
Quick Summary
If 44AD presumptive scheme is opted, then,
-> also required to follow the same for next 5 years (i.e. 5 years after the 1st year of opting)
-> if not done, then scheme not available for next 5 years (i.e. 5 years after the year of not opting)
So, if continued, then till AY 2024-25.
Thank you
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