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?
CAclubindia
