Sambit Patel (Director) (180 Points)
12 March 2010Hi...
As per the calculation from my PayPal , it comes a total income of 25 lacs and everything which are spent here are from that money.
So, lets say, I want to pay 50,000 INR as tax this time. That means, I should be showing around 19 lacs as my Business Expenses and other 6 lacs as my net profit, right ??
And is there any special deductions for Software or IT professionals, since we dont work for any Indian clients, but all US based customers ??
Let me know..
Rachit
(Analyst)
(913 Points)
Replied 12 March 2010
No there aren't any special deductions for software or IT professionals. If your unit is set up in a software technology park you can avail benefits of sec 10A
Sambit Patel
(Director)
(180 Points)
Replied 12 March 2010
No..
It will be registered this year.
So, you can consider it as a full time freelancing.
So, lets say, I want to pay 50,000 INR as tax this time. That means, I should be showing around 19 lacs as my Business Expenses and other 6 lacs as my net profit, right ??
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