Hello,
Apart from the monthly salary from my job, i also earn some considerable freelance income doing part time. I wanted to know whether i can give my moms bank account to my clients for payments so that i can save tax?
From India, Bangalore
5Apart from the monthly salary from my job, i also earn some considerable freelance income doing part time. I wanted to know whether i can give my moms bank account to my clients for payments so that i can save tax?
From India, Bangalore
Are you looking for ways of not paying tax on your income? If you can have a good nights sleep without being afraid of being caught by the Tax man, go ahead and do it. I know a lot of politicians and business people do all sorts of things and can sleep.
From United Kingdom
From United Kingdom
One has to pay tax on all the income, not just salary income. If the other income is insignificant may be not bother to declare unless you have to file tax returns. For example, doctors get salary and they are allowed to do private practice. And they are taxed on that income. Same goes for teachers who give private tuition.
Getting the money paid into your mother's account will lead her to problems. One way of doing it legally would be set up a company and adjust the income against expenses incurred.
From United Kingdom
Getting the money paid into your mother's account will lead her to problems. One way of doing it legally would be set up a company and adjust the income against expenses incurred.
From United Kingdom
You are submitting that you are getting some income other than your salary.
While getting this payment any TDS is deducted from your payment. If yes, what is the rate of TDS. What is the Income you are getting from other sources.
This other source of income can be Income from business / profession. Here you are allowed to claim the other expenses and reduce the net income for IT purpose.
If you need the details please provide the amount details
Ramakant
From India, Pune
While getting this payment any TDS is deducted from your payment. If yes, what is the rate of TDS. What is the Income you are getting from other sources.
This other source of income can be Income from business / profession. Here you are allowed to claim the other expenses and reduce the net income for IT purpose.
If you need the details please provide the amount details
Ramakant
From India, Pune
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