- This topic has 11 replies, 5 voices, and was last updated 1 year, 1 month ago by
.
-
Posts
-
-
SMy mom is not working and I use her account to receive income from my freelancing projects.
I wanted to know if this is ok or i should stop this?
The big reason for this is obviously to avoid dual employment and reduce my tax burden.
Also if it helps, the income isn’t steady or fixed. And comes from multiple sources (mostly foreign, sometimes Indian).
My CA said I can do this but some people on the internet says it’s not good to do?
I am confused, please help me
Thanks
-
-
-
-
-
-
SDo it. Upto 12 lakhs its completely tax free.
You can issue invoices in a firm with your mother as proprietor. That way you can claim expenses like hardware / software purchases, rent, utilities, salaries etc.
Even if taxable income is zero, I’d recommend filing nil returns at the end of year.
-
SIt’s not a firm, it’s like an online content writing gig that I do. And I sell the digital stuff through an app and whenever I want, I can just withdraw the money to an account.
That app is not Indian, so it first goes to Payoneer and then to my mom’s account.
Also I heard that 12 lakhs news is not applicable if you are investing in equity or mutual funds? I invest that money through my mom’s account directly.
I have no issues with filing ITR, just wanted to know if this is legal since Google says at the end I am doing the work so it’s my income, so I can get in trouble.
My mom does not work, she is a stay at home mother
-
-
SI don’t think they can deduct tds since the payment comes from another country.
I haven’t counted everything but it’s probably almost 5L
-
SYou must have submitted PAN or something right? As you’re not an employee, they will have to consider you as an independent contractor. Provided they are registered in India.
If not, just file a nill return and you’ll be fine. Since you’re not an employee, you can deduct your expenses like the internet bill and other items before arriving at profit.
-
-
-
-
-
