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Presumptive Taxation under Section 44AD of the Income Tax Act,1961

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PIYER (Querist)
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20 July 2024 Hi,
This is to confirm Whether Euro Kids Franchise can File Income Tax Return under Sec.44AD Presumptive Income Scheme?
Brief Business Model is as Follows:
Student Pays the Fees Directly to Euro Kids Say Rs.100,Euro Kids deduct their Royalty and Taxes Say Rs.20 and Remit the Balance Say Rs.80 to the Franchise.
Can the Franchise go for Section 44AD under the Income Tax Act,1961 Presumptive Income Provisions?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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20 July 2024 Yes, provided the business is conducted by any resident Indian, eligible for sec. 44AD IT act.

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