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Opting for 44ad in 2nd year
last year my turnover was less than 2 cr so i opt for 44ad.but this year turnover exceed 2 cr ..so i should do the audit.but it is said that once 44ad is opted u cant chnge for 5 years..pls rply thanks in advance.
Replies (2)
Quick Summary
44AD say if you opt out from 44AD within 5 years that you needs to gets your accounts audited
As your turnover exceeds 2 cr and you are getting your accounts audited, so no need to worry
As your turnover exceeds 2 cr and you are getting your accounts audited, so no need to worry
Ok thanku.but even though i opt out from 44ad i declare more than 8% ..should i audit??
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