i dont want to opt for 44ad .i declare profit more than 8% can i file normal return ..?? pls reply thanks in advance.
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Quick Summary
If you choose not to opt for Section 44AD, you can generally file a normal tax return, especially if your declared profits exceed the 8% threshold. However, be aware that opting out of 44AD means you may be restricted from using this presumptive taxation scheme for the next five years. This restriction typically applies if you've previously opted in and are now declaring income differently.
That is applicable only if the assessee has opted in the PY and subsequently declaring income other than 44AD, right? Please correct me if I am wrong!!