If i choose to pay tax as per 44AD
but after 2 years my turnover crosses 2 Crore, will i still not be allowed to take 44AD for 5 years if my turnover falls below 2 crore?
You will be allowed to opt for presumptive taxation, as you had not opted out by choice.
Yes, correct ...
"So the restriction of 5 years not applied, if one become ineligible for presumptive taxation in between those 5 years"
CAclubindia
