Do you need to have a GST number snd pay 18% on income?

Software Engineer

No, 44ADA is for folks that don’t collect GST. As long as you’ve earned less than 50L, you can avail 44ADA without a GST number

Chartered accountant 

Yes, I have used this. But for a smaller amount of 1 lakh only. Dont have any idea about gst.

Backend engineer

I have a question on 44ada
Can I still claim 44ADA if I am contractor and employer is deducting TDA

Consultant

Welcome to Personal Finance's Private Community

44ADA

44ADA- Grapevine

I heard recently from a friend that a company offered the candidate 36lpa and there is no pf cut or anything. 36/12 = 3 lakhs would be monthly in-hand directly. It's a startup and recently got registered in India so benefits would take some time to reflect. And equity yet to be decided.

Has anyone heard of such things?  Does any company pay the whole compensation/12?

Pay divided by 12

Product Manager

The foreign companies pay you the exact amount without deduction and the taxes need to be paid by the individual.

Does the section 44ADA really help to save tax?
What's the benefit if someone is earning the same amount from an Indian company and the same from a company outside India?

I've read the rule change if you make above 50L. I would like to know from people who are actually paying freelance taxes.

Taxation on income from foreign companies?

I know 44ADA exists but not for salaried employees

Can someone confirm? I smell fishy on this advice

Welcome to Software Engineers's Private Community

hey folks do you declare any side/freelancing income information during return filing?  
if your side hustle is over 5L but less than 20L, will you declare or keep it hidden?

income tax on freelancing

Engineering manager

My calculation says I should pay advance tax today (15 sep) - 45% of tax as per google search
Quicko is saying to pay on 15March

What is the rule, should I pay or not?

I don't want penalty later

Advance Tax - What's the way ?

CA here. In case anybody has any query regarding Income-tax return filing, can comment below. Will try to help you out as much as possible.

Income- tax Return

I'm a software dev contractor and I'm working for 2 companies, having a total income of 50L per annum. 

when I consulted a CA, he mentioned that I'll have to pay 18% GST (since business income is over 20L) and will also have to pay 30% income tax. 

i understand taxes are important and all, but I'm so not willing to give 6 months of my hard work to the government. 

can anyone please advise me on what to do to save on taxes

paying 48% tax. need a CA's advice

Welcome to Moving Abroad's Private Community

I am currently working remotely for an American startup from India. I recently received my Visa and now have an option to move to US. I also have another job offer on-site in India that I am evaluating. 

My question is mostly on taxation and calculating in-hand salary. 

Current - 85 lacs base. Working as consultant. Registered GST. I am able to save tax and get to a post tax income of 75 lacs.
Savings 

New On-Site Indian offer - Base 98 lacs. 

My question is, what will be my post tax income while working as an employee in the Indian company.

Question on Taxation and Savings

Govt of India is best at killing Middle Class. What percentage of your total CTC did you pay in tax. Income Tax department id the new Sahukar.

Percentage of Total CTC did you pay in tax ?

Analyst

How much does your CA charge for filing GST for Section 44ADA based income

So this is something that I have been researching for a while, apart from very well known instruments such as-(only mentioning the ones that should be done by everyone irrespective)
* 1.5L annually through 80C
* 50k standard deduction 
* HRA claim
* Donation claims
* Insurance/Medical claims

How are you folks optimising your post tax income?
Would really like to hear it from people getting >= 24 LPA fixed, since from this point onwards a major chunk (almost 20% goes in taxes) and it really hurts.

Tax Savings for 30% slab

Welcome to Business Roles's Private Community

Considering a fresher who will need to do a masters abroad (MiM/Masters not MBA as it needs work ex) with a loan vs a fresher who will start working right after UG in Consulting or Finance
Considering the PPP, and also considering that it is a golden decade for India
How will it look for these two different routes? Would love to hear your opinion/suggestions

Where can one earn the most? India vs Abroad

A friend recently got a SME IPO. 1.2L Rs was the investment and it is expected to open at 100% premium. So basically around 1.2L profit. (>1L limit for capital gains)

His income is 45K for this year, hence under the exception bracket. 

So if he sells the shares tomorrow itself is he liable for STCG or not?

Related to Taxation

Finance Consultant

I have been freelancing since Dec'23. They connected my account details via RIPPLING. They asked me to fill a form (W8-BEN) in which I had to add my PAN.

I pulled 26AS for 23-24 but not seeing anything from this company in there. 

Since this is my first time doing freelancing I'm not sure how to move from here. 
Should I add it as income from foreign sources? 
Or I need to do something else.


If someone has any experience in this field do enlighten me please 🙏

ITR for freelancing gig

Are there any tax benifits/ loss while working for a remote company while staying in India?

I'm told that the pay would be a bank - wire transfer every month or it could be a payoneer.

Are there any specific questions should i ask to get more clarity on this?

If you have any resource, please paste the link below ...

44ADA

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