Master in Accounts & high court Advocate
9610 Points
Joined December 2011
As an educator with royalty income from online video courses, you're correct that Section 194O applies for TDS deduction. Regarding eligibility for presumptive taxation schemes: -
Section 44ADA is specifically for professionals like lawyers, doctors, and consultants, which doesn't include online teaching. So, you're correct that 44ADA isn't applicable. -
Section 44AD is a presumptive taxation scheme for businesses, but it might not be directly applicable to your case since your income is primarily royalty-based.
However, you may consider consulting a chartered accountant or tax expert to explore the following options: -
Claiming a reasonable percentage of your royalty income as business expenses (e.g., production costs, software expenses, etc.) -
Exploring other tax deductions and exemptions available for educators or individuals with royalty income -
Assessing if your online teaching activities can be considered a "business" and potentially eligible for Section 44AD or other presumptive taxation schemes Keep in mind that tax laws and interpretations can be complex, so professional guidance is essential to ensure you're meeting the necessary requirements and taking advantage of available tax benefits.