Other than consulting. I make money from security bugbounty programs.
I use sites like bugcrowd and hackerone. (You can search about them on internet)
Basically the work is that I find security vulnerabilities in companies that are signed up in these platforms and they pay a "reward" for each valid finding (Money sent from the platform). I made some good money last year (~12L) .
I was thinking of getting a GST for this year since I am near limit.
How do I raise GST bills for unknown amounts ? (Since only after the reward is known I can calculate the INR amount. )
Will this still be "services" ?
My friend who is a CA is under the impression that this might be not a business income at all. And that some assessing officer might try to say this is under the head "Winnings from Lottery, Crossword Puzzles, etc)" which is a flat tax of 30%. I totally disagree. This is something I put a major effort into and something I consider part of my business. Wondering your views on the same.
CAclubindia
