Presumptive taxation - 44AD

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Hi

ITR was filed on presumptive basis for the last 2 years. However this year, we have loss from business, but have other incomes like capital gain and Income from other sources. If we come out of 44AD, will we be subjected to tax audit? What is the criteria?

 

Thanks

Replies (1)
Tax audit is applicable if your turnover greater than 1 crore. If you withdrawn from presemtive taxation now,then you cannot opt presemtive taxation for next 5 years.


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