Latest news:  
  • Limit for E-Invoicing has been reduced to 10 crores from existing 20 crores respectively.



Home / All questions / If i file my return u/s 44 ad for the past 3 years

 

Hey there, You can ask us Anything !!

all questions


Ask Question

ask question to finaccle



Back to all questions

If i file my return u/s 44 ad for the past 3 years, turnover respectively Rs. 1.2 crore , 1 crore , 95 lakhs.Then i file my return in the 4 th year (turnover Rs.93 lakhs) under normal peovisions, with maintaing books of accounts. If am i eligible to file u/s 44 ad in the next year i.e 5 th year, assume that my turnover in the 5 th year is 98 lakhs???

No, you won't be eligible to opt for 44AD for the next 5 years as you have opted out once and have filed your return under normal provisions, presuming that by normal provisions you mean that you have audited your accounts. At 98 lakhs turnover, you must have shown your income greater than the basic exemption limit so audit shall be applicable to you.

  •  Radar
  •  570 Views
  •  Goods and Services Tax (GST)
  •  Thanjavur



Flexible Accounting Solutions for your business.



What they say about us




Abhishek Taliya

Quick response to any query. Excellent services and Extremely polite and professional staff.
Abhishek Taliya, 3Tee Elastic Private Limited

Shreyansh Kothari

Best in business in their respective fields
Shreyansh Kothari, K Lal

Abhishek Gotawala

Great service by Team of Finaccle. Their execution method is amazing. Would love to continue with them in future!
Abhishek Gotawala, Harikanta Overseas Private limited

Mr. Sharma

It's good to work with Finaccle's Advisors. Perfect and Reliable.
Mr. Sharma, Ganesh Weaving



Latest blog posts






More blog posts