Once opted out of 44AD, one cannot get the benefit of 44AD for a period of 5 years right.
Suppose someone claiming profit less than 8% and doing tax audit. will that be treated as opting out of 44AD? will he be able to file return under 44AD in the next year?
Or declaring higher income and filing under normal provision will only be considered as opting out of the 44AD scheme
Also in the below situation;
FY-2017-18 T/O- 1.5 cr- Opted for 44AD
FY 2018-19 T/O- 2.1 Cr- Tax audit applicable
In FY-2019-20, can he file return under 44AD?
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