Sir In the assessment year 2020/21my gross turnover from retail sale wasRs.3260500-and I was show my Income a sum of Rs 425000/- under section 44AD but in the Assessment year my turnover comes to Rs. 1725000/- and I have shown the profit a sum of Rs.360500/-.Sir I want to know that can I take the facilities in the further year under section 44AD. Please guide me.Thanks.
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Quick Summary
This discussion concerns an individual's eligibility to claim benefits under Section 44AD for their retail business income. The user previously declared income based on a higher turnover but now has a significantly lower turnover. They are seeking clarification on whether they can still avail the presumptive taxation scheme under Section 44AD in future assessment years despite these changes.