IseeDarknessInLight
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?
19mo ago
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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?
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.
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.
Yes consultant seems to be a good option will check that.
Is moonlighting legal in india? And employers can find out using epfo right?
Question to guys who are working part time for a startup Or foreign client along with a regular job.. How do you manage payments and hide your side-gig from your primary employer?
Can you take payments in your own account or in account...
IT department sending moonlight notices apparently
https://twitter.com/ravisutanjani/status/1689301324158930945?s=46&t=-Y8gJsKWsnMPnWZzk9ilMQ
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