Not opting for 44ad
NICSON JOHN (514 Points)
20 December 2021
i dont want to opt for 44ad .i declare profit more than 8% can i file normal return ..?? pls reply thanks in advance.
4 Replies
CA AKSHAY VARMA
(74 Points)
Replied 20 December 2021
Yes you can but if you file normal return then for next 5 years you can't file return under section 44ad.
Manish M Nair
(Student)
(90 Points)
Replied 20 December 2021
Hi Akshay
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!!
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!!
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