Section 44 ad

As amended in finance act...... from 01.04.2017....... if an assessee has opted for sec 44AD in preceeding year, and has continued under it for not less than 5 years; s/he can opt out of the presumptive scheme only with more than 6/8% profits, or with tax audit liability for next five years......

Thanx sir for the prompt reply. My client is showing a profit of Rs. 7.00 Lacs against the reciepts of Rs. 10.00 Lacs. can he file under normal provisions of IT Act

And last year he has filed his first return

Thanx to all very much, there is more question whether late fees paid on delay in filing GST return is an allowable expense or not