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44AD(4)

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Student CA asked over 1 year ago

In the section of 44AD(4), the law is provide that if you opt for presumptive taxation scheme and thereafter failed to opt out for the scheme in nexy f.y. then he will not entitle for the same scheme for the next 5 A. y. my question is that if he opt for the scheme for regularily in 5 A. y and thereafter he would not like to opt 44ad is there same treatment as above or not?

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4 Answers
Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Student CA answered over 1 year ago

thank you

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Student CA answered over 1 year ago

ya..ok

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Tutor CA answered over 1 year ago

if he wants to opt 44ad he can still do so but again for 5 years

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Tutor CA answered over 1 year ago

after five years he can opt out of the scheme and choose ti be taxed as per normal provisions

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