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.
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