CA R SEETHARAMAN's Expert Profile

Queries Replied : 42596

I am a retired Executive Director/Finance of a Navratna PSU.

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vinit karan says : Tax on app revenue
Hi Sir, I am working in an organisation earning around 27lpa. As a side income, I started developing apps on Playstore and App Store. I am earning around Rs 7-8k per month from ads and Rs 2-3k per month from in app purchase which is done from users in India and around the world. My question is how to pay tax on this app income. Do I have to pay GST or I can include my app revenue in my salary and pay tax as usual while filling ITR?

dsd1986@gmail.com says : Query regarding section 149 as per finance act2022
Good evening Sir, I am CA final student. I am having one query in finance act 2022 term introduced if investment made in an asset is more than 50 lacs including previous F.Y, then the time limit would be 10 years. This limit of 50 lacs should be made in single asset over multiple F.Y. or does it include investment made in multiple assets in multiple F.Y. Say I bought one asset in f.y. 2019-20 worth 30 lacs and other asset in 2020-2021 worth 30 lacs. Here time limit would be 10years or 3 years.

Ramesh Kumar says : Change tax regime in revised return
Dear sir, My question is salary person (file Itr -1) can change tax regime in revised return after processed original return (original return file befour dur date.)