Presumptive Taxation Section- 44AD

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[@Sanjeev-abcd1234]

Very good

[@ankushrathore8474]

Very well explained

[@capupil7914]

Thanks😊

[@cachandraprakash943]

I have filed an ITR showing lossess in FNO. Whether audit is applicable or not???

[@capupil7914]

There are two cases - If in previous year you have filed ITR under 44AD, so for showing FNO loss , Tax Audit is required, because now you have to file ITR-3.
but if 44AD not opted in previous return then only if your turnover exceed 10 cr. ,tax audit will be applicable.