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?
CAclubindia
