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Opting out from 44ad

ITR 275 views 3 replies
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Self
33 Points Posted on 06 September 2023

Last three years opted 44ad for my business. This year I stopped buisness and joined a job. Wheather I need to go for audit this year???

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On 06 September 2023 at 12:59 Report
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CA
10436 Points Posted on 06 September 2023
No, you don't need to do an audit in CY if profit from business is more than 8%. If you need to discuss this in detail, then please check your inbox.
40 Reply
On 06 September 2023 at 13:15
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CFO- at NHTF
58280 Points Posted on 06 September 2023
You may file ITR-1 instead of ITR-4.

If you want to continue 44AD then declare notional Income under 44AD
59 Reply
On 06 September 2023 at 13:27
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"Do the Right Thing...!!!"
128147 Points Posted on 06 September 2023
Yes I agreed with Mr Eswar Reddy,

@ Jai shree Narayan,

No need audit,You can file ITR 1
463 Reply
On 06 September 2023 at 14:08


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