JazzyTaco

Moonlight tax

So my friend moonlights, does two jobs. My friend was wondering if one jobs income can be shown as business income? Or does that need some other contract? Does anyone know?

20mo ago

Find out if you are being paid fairly.Download Grapevine

PeppyPickle

Stealth20mo

Friend is you isn’t it?😂

JazzyTaco

FirstSource Solutions20mo

Lol no it is a close friend.

FuzzyNarwhal

Stealth20mo

Ask him to install grapevine and ask the same Q.

SquishyPickle

Amazon20mo

No. Both jobs income will go through TDS if registered as employee. You have to be a consultant tans raise consultant invoices to count as business income. It would be about 6% in tax (18% if you want to claim gst input). Better to become a consultant in one of the jobs.

SquishyPickle

Amazon20mo

look into section 44AD.

SquishyPickle

Amazon20mo

beat is to hire a CA :)

GroovyBoba

X (formerly Twitter)20mo

If it's employment then tds will automatically get. If it's not then Modiji gonna come knocking for your employer and you

JazzyTaco

FirstSource Solutions20mo

Lol

GoofyPickle

Oracle20mo

If it is permanent employment from both the companies then there will be a problem in showing that as business income. Both the companies would have reported it as salary while paying advance tax. Same will seen in form 16. IMO He/She will have to file it as regular income by combining both the incomes. Take an opinion from CA. In future better to move as a consultant in one of the organisations.

JazzyTaco

FirstSource Solutions20mo

Yes consultant seems to be a good option will check that.

DancingCupcake

Stealth20mo

Is moonlighting legal in india? And employers can find out using epfo right?

JazzyTaco

FirstSource Solutions20mo

Guys we should not moonlight. It is bad. I for one will never ever moonlight. Everyone knows we must not moonlight. Yes employers can find out via epfo.