I develop app for Android platform. The app is free to download. The app has ads in it. The ad networks like Google and facebook, pay me for showing ads in my app. The user of my app(who downloads the app from play store) can remove ads by making a small payment(through in-app purchase). My turnover was around 95 lacs.
1. So for income tax purposes, what is the nature of my work, Is it business or profession?
2. Which ITR form I need to file?
3. Am I eligible for 44AD?
4. What will be my business code for ITR?
5. Do I need to get my accounts audited? 6. Do I need to keep book of accounts?
CAclubindia
