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 Topics :
- ITC ON RENT
- GSTR-9 Table 8A Portal and Excel Issues
- IGST on Commercial Rental Income (Different State)
- Revocation of suo moto cancelled GST registration
- Is there any faculty taking chapterwise test in CA
- Late Fees and Interest
- HDFC Bank’s Bureaucracy: The Nightmare of Fl
- Running a CSC Center, Maha E-Seva Kendra, Setu Ken
- GSTR-9 Table 8A issue
- CA Inter Coaching institutes at Hyderabad
Related Topics :
CAclubindia
