First year turnover 1.5 Cr and section 44ad opted.
next year Turnover above 3 Cr.
Now section 44ad not applicable.
assume that my cash receipts and cash payment below 5%..
my question.. 1) once you opt section 44ad, you have to choose the same for next 5 year.. but in my case turnover is above 2 cr and now not applicable.. what are the implications..
2) 6% or 8% rule still applicable??
CAclubindia
