Dear all,
One assessee file ITR-4 under Section 44AD last year ( A.Y. 22-23). It was his first IT return. Can I file ITR - 3 and declare profit less than 8% in A.Y. 23-24. His turnover is less than 1 crore. Is Tax audit U/S 44AB mandatory for this assessee?
please help.
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Tax Audit for presumption taxation Assessee
Replies (4)
Quick Summary
Yes, if total income is above BEL.
How many years he has to declare profit under 44AD?
For next five years more, total six years.
Thank You sir
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