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Presumptive Taxation u/s 44ADA
A person has opted for presumptive Taxation u/s 44ADA for the past 2 years. However, for the current F.Y. there's no income. Does the person require to file ITR? If the person is not filing ITR for AY 2022-23, is it that the scheme won't be available to him for the next 5 years ?
Replies (3)
No. The said rule applies to sec. 44AD; but not for sec. 44ADA of the act...
Thank you for responding. Could you please quote the rule number also.
Sec. 44AD & sec 44ADA in itself have the details about it. No more rules required.
Refer FAQ Q4 in https://www.fisdom.com/section-44ada-income-tax/
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