One of my client File ITR for AY 17-18 by filling form 3( not opted for presumptive scheme) now for AY 18-19 he wanted to opt for presumptive scheme.
is there any issue in the same?
Menu
Opt for presumptive scheme(44ad)
Replies (2)
No issue in opting for sec. 44AD, provided eligible business & eligible assessee........ only issue is while opting out without 5 years of continuation.
No issues. You can opt for Persumptive taxation u/s 44AD. There will be issue only if you break the chain, that is you are filing u/s 44AD in AY 18-19 and if you go out of 44AD in AY 19-20 then you cannot opt for 44AD for next 5 FY's from AY 19-20.
Recent Topic
- Clarification Needed: Reporting Accrued vs Paid FD
- TDS on prize given to participants in Livestock sh
- TDS related matter - 194 IA
- Research: How do CA firms handle GSTR-2B reconcili
- CA FINAL FR IndAS 33 Illustrtion 14
- Taxation on Sale of old Jewellery Received at Marr
- ITR-3 Filling issues
- PF withdrawal and tax liability
- Sale of Goods or Services?
- ITR form query
Related Topics
CAclubindia
