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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Opting out from 44ad
Replies (3)
Quick Summary
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.
You may file ITR-1 instead of ITR-4.
If you want to continue 44AD then declare notional Income under 44AD
If you want to continue 44AD then declare notional Income under 44AD
Yes I agreed with Mr Eswar Reddy,
@ Jai shree Narayan,
No need audit,You can file ITR 1
@ Jai shree Narayan,
No need audit,You can file ITR 1
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