Tax on youtube income as well as opportunities to save tax

- Yes you can claim the expenses incurred on app. Make the payment to the relative for his part. Maintain invoices for all expenses incurred and revenue.

- It is compulsory for you to register for GST as turnover exceeds Rs.20 lacs and apply for LUT. 

- Yes you can claim benefit of PPF investment.

Hi,

- It is recommended to take GST no. this year as turnover exceeded Rs.20 lacs.

- You are required to pay GST@18% on the income exceeding Rs. 20 lacs.

- Deduction of Rs.1.50 lacs is available u/s 80C, Rs.50,000 u/s 80CCD(1B), 80D etc.

Yes you can claim expenses you have incurred on such applications but you will be required to have invoice of the developer who made it and you can show the amount paid by your relative as loan for now and later on repay it.

Yes you will get tax deduction for PPF under section 80C upto Rs. 150000.

Technically you are required to register under GST since the turnover has exceeded the limit of 20 lakh.

We need to discuss other tax rebate options, and also regarding advance tax as your income seems to be bit high for that you can call me or email me.

Hope you find the information helpful if you do please rate it 5 and provide your valuable feedback for my improvement.

Thank you

1) yes you can get deduction for it. Provided you have tax invoice in your name.

2) yes subject to certain criteria.

3) You are required to get GST registration & raise gst invoice for same.

4) There are various venues through which you can claim deduction.. for every expense done for publishing your video you can claim deduction.

Hi

1. Yes, such expenses shall be allowed. You must maintain invoices of such expenses. Also, show the loan from the relative in the books of accounts.

2. Yes.

3. You were required to register under GST once your turnover crosses 20 lacs. Apply for GST within a day or two so that registration can be done in this year itself. We may help you with the same.

4. You can claim other benefits like deductions for life insurance premium, mediclaim, home loan repayments etc.

Dear Sir,

Hope you are doing well !!

1. Yes subject to sufficient proofs.

2.Yes.

3. You were required to register under GST. Now you can apply for GST.

4. You can claim deduction u/s 80C, 80CCD, 80D, 80G etc. 

Hi,

1. Yes.

2. Yes.

3. Register for GST now.

4.You can claim various deductions like insurance premium, Medical insurance, term deposits, ELSS, NPS, donation etc.