Section 44AD of Income Tax Act (Presumptive Tax Scheme)

Yes you can take the benefit of 4AD. The chain is not broken. But you cant file the return for 19-20 as time for filling the same has been expired 

Yes whenever notice is issued, then only you can file your return and then you will be liable to pay taxes and penalty

- For AY 2020-21, last date was extended till 31.05.2021. File condonation application with the department for filing of ITR for AY 2020-21. You can still take the benefit u/s 44AD.

Dear Sir,

Hope you are doing well !!

Yes, you can take the benefit of section 44AD.

However, You can't file return for FY 2019-20. The due date has been lapsed.

You can file the return only after receiving approval from commissioner. You need to file condonation of delay for the same,

Also, If you receive any notice from the income tax department then you can file the return.

We may help you in filing condonation of delay request.

Hi

Yes you can take benefit of section 44ad.

No can't file return for 2019- 20. 

Hello Sir/Madam 

You can still avail benefit of 44AD because non filling of ITR doesn’t means u had changed your method of filling ITR 

If your 19-20 ITR having income more then exemption limit then in my views plz prepare a computation of income and pay tax if any payable 

Yes you can still take as it is mentioned in the section that

 "[4] Where an eligible assessee declares profit for any previous year in accordance with the provisions of this section and he declares profit for any of the five assessment years relevant to the previous year succeeding such previous year not in accordance with the provisions of sub-section [1], he shall not be eligible to claim the benefit of the provisions of this section for five assessment years subsequent to the assessment year"

Since you haven't shown any income you are still eligible for presumptive.

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Thank you

Non filing of return in case you do not have any taxable income has no serious consequence. You may not be able to file the return for the fy 2019-20 now, as you missed the deadline. However, in case your income exceeds taxable limits and you have tax liability, I suggest you pay tax and be done with it. In case, there is any notice from the IT Department, the payment of tax helps you to avoid interest and penalties.  Further, compute the income under 44AD(4) only, following the presumptive taxation as hitherto. 

It won't affect your ability to claim the benefit of 44AD, even if you have not filed the return for the FY 2019-20.