44AD provision for presumtive tax for sole proprietor

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Vijay (Querist)
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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

CA R SEETHARAMAN (Expert)
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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.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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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.

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