I provide Digital Marketing Services to my clients in US, Should I opt for 44AD or 44ADA?
Hi, I am a digital marketing expert. I provide services like managing Google Ads, Facebook Ads, and Social Media Marketing for my clients.
For one of the clients, I was hired as an independent contractor (via a third-party Freelance website) For others there is no contract.
I send the invoice via PayPal and get money into my bank account.
Is this considered business or profession for tax purposes. More specifically, should I file tax under 44AD or 44 ADA?
Asked 1 year ago in Income Tax
Further, If revenue cross over INR 50 Lac for the year and profit margin hovers around 70%.
In that case, can I declare a profit of just 8% or do I have to show a complete 70% and pay taxes on that (Under 44AD)?
None of My clients are from India, all of them are from the U.S. or Canada. In this case of export of services, do I have to register and file GST or I am exempt from doing so.
And, do I need to get any IEC code/certificate?
Asked 1 year ago