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Tax audit for a.y.17-18

Statutory Audit 332 views 1 replies

Hi Experts, 

Can a civil contractor use 44AD for filing Income Tax Return for A.Y.17-18? 

Turnover 10600000.00 (One Crore Six Lakhs) 

Original Return filed as per bill, but now 26 AS having TDS on the above amount, 

Can he revise his return or do he need to do the audit? 

Your early response is highly appreciated.

Rashmi

Replies (1)
 
 


Can a civil contractor use 44AD for filing Income Tax Return for A.Y.17-18? 

 

YES.

Turnover 10600000.00 (One Crore Six Lakhs) 

Original Return filed as per bill, but now 26 AS having TDS on the above amount, 

Can he revise his return or do he need to do the audit? 

Yes, Upto 31.03.2019. But will have to opt for same for next 5 years, other wise audit applicable as per sec. 44AD(5) & (6).

Your early response is highly appreciated.

Rashmi

 

 


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