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Krishnachandra Pandey
I am doing freelancing work (export of service) and my current years earning is 23 Lac, I was not aware that it is compulsory to register for GST after a turnover of 20Lac, now what can I do. please suggest
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Kindly apply for GST registration immediately so that further non-compliance can be avoided. Please call on +91-9911744028 for assistance in registration and understanding the repercussions due to non registration for certain period.
CA Hunny Badlani 30 Mar 2021You need to register yourself for GST immediately. Considering your supplies qualify for export of services, you can supply such export services without payment of IGST under LUT. For further assistance, Kindly contact us at badlaniassociates at Gmail.
CA Naman Maloo 18 Apr 2021You can apply as soon as you get to know and slow the excess invoice in next month.
If you need any assistance you can read more here: https://www.taxontips.com/category-goods-services-tax-gst-registration/
https://www.taxontips.com/gst-registration-for-freelancers-in-india/
Or connect with me
S
Sourav
How to declare freelance income?
Either as other income or if it is substantial then business/professional income
CA Hunny Badlani 30 Mar 2021It can be declared under business head, depending upon the nature of freelancing services provided. For further assistance, Kindly contact us at badlaniassociates at Gmail.
CA Naman Maloo 18 Apr 2021Show it as your business or professional income.
You can read more here: https://www.taxontips.com/can-a-salaried-employee-show-business-professional-income-and-file-itr-4/
V
Vijay G
Investing in startup for ownership of income earning e bikes -Start co to save income tax ?
Sir/Ma'm,
I am.plannong to invest about 31 lacs in an ebike startup for ownership of 30 e bikes which the company will put on rent for b2c and Bob with assures returns for a period of 4 years.At end of 4 years the company will buy back the ebikes.I am a regular salaried employee with a annual income of about 12 lakh pa(gross).Please advise best way to save tax on my e bike income for next 4 years (Projected income 1.45 lacs pm for 4 years).Should I start own llp and register these ebikes on the company or buy on my own personal name.I have personal loan of 68 lacs.Please suggest different options for best tax saving .Thanks in advance .
We need to first understand the model in which you are going to work the paperwork that will be done for same.
You can book consultation at: https://www.taxontips.com/tax-notice-personal-consultation/
V
Vijay Kumar Prajapati
I have income coming from my Salary. Also, I am doing affiliate marketing. Can I claim deductions on the expenses incurred while generating income from affiliate marketing (domain/hosting etc.)? (As per old/new tax regime)
How should I categorise it, income from other sources or income from the business?
You definitely can claim deduction, however, kindly consult your CA. If you need professional advice, please contact at canavinjain1@gmail.com/ 9830375894.
CA Hunny Badlani 30 Mar 2021YEs, the expenses can be claimed. For further assistance, Kindly contact us at badlaniassociates at Gmail.
T&C applyR
Rahul Soni
I am employed with a company based in UK as a consultant. Will I come under section 44ADA of the income tax? Assuming I get 10,000 GBP annually, will there be any taxes on that except the 10% TDS?
Should I consult a CA for it now?
You need to consult with your CA, also your GST implication needs to be analyzed. If you need professional advice, please contact at canavinjain1@gmail.com/ 9830375894.
CA Aakash Ostawal 29 Mar 2021Yes, you can opt for taxation under 44ADA.. There will be taxes in india based on Slab rates. You can consult us on 9880610887
CA Naman Maloo 29 Mar 2021If you are earning from outside India how is TDS getting deducted?
You can consult a chartered accountant at:. https://www.taxontips.com/tax-notice-personal-consultation/
