44AD provision for presumtive tax for sole proprietor
This query is : Resolved
Quick Summary
28 April 2023
I have a Design firm providing IT services (UX Design and development) services to various brands. It's a sole proprietorship. I personally work for customers and I have a small team who also work onsite for the customers and are billed hourly rate. How can I avail 44AD tax benefits. Also kindly explain what it would mean as an individual. Does it mean my total tax liability is 6-8% for total earninga or do I also have to separately file my individual taxes as per the tax slabs. In service industry how is profit calculated? How can I optimize my tax savings?
CA R SEETHARAMAN
(Expert)
28 April 2023
As you employ some people to do some work onsite it can be treated as business.
Avail 44AD benefit and file ITR.
Avail 44AD benefit and file ITR.
CA R SEETHARAMAN
(Expert)
28 April 2023
As you employ some people to do some work onsite it can be treated as business.
Avail 44AD benefit and file ITR.
Avail 44AD benefit and file ITR.
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