individual
23 Points
Posted on 22 December 2013
Hi, I am doing a freelancing, basically making apps/games for mobiles / tablets and selling it online through various stores like google play, blackberry appworld, amazon appstore etc. Suppose I sell a product for $1 then $.70 is my share and $.30 will be companies share through which i am selling. So can I compute my taxes under 44AD as 8% as income of total turnover. As an example suppose for year 2013-14 I get 20lakh inr as total turnover then can I consider 8% i.e. 1.6 lakh as my income and calculate tax on it (which is not taxable because less than 2 lakh) . In this case should I keep books of account. My investment or expenses are negligible as I live with my dad n mom and my brain and computer and internet is the main investment. Please help considering my case and clear my doubt.