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?
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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.
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