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Opting for 44 ad this year
i filed return as normal in the last year.but i wantbto file return under 44ad this year.is it possible? turnover below 2cr.pls reply thanks in advance.
Replies (3)
Quick Summary
Yes, you can; but keep eye on not opting out for next five years.
But i am opting for 1st time so i can opt out once.is it right?
No, once opted for sec. 44AD, you need to continue for at least 5 years, otherwise tax audit liability arises.
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