hi
for saving tax i am receiving these adnetwork payments in my mothers and fathers account
so that all income does not fall under my name
example
dads bank account - 7 lakh received >> 4lakhs fake expenses >>2.5 lakh exemption>> minimal tax
moms bank account - 7 lakh received >> 4lakhs fake expenses >>2.5 lakh exemption>> minimal tax
moms bank account - 7 lakh received >> 4lakhs fake expenses >>2.5 lakh exemption>> minimal tax
like this 21 lakh income with minimal tax
but since u wud have received all money in ur personal account , there is only 1 way to avoid taxes and that is expenses — "real expenses " or “fake expenses” that is upto you
TIP - "dont exceed revenue of rs 25 lakhs under one account " - if u do u will fall under tax audit and things will become more complicated
are u earning 3lakhs/month or 30laksh/month
u have mentioned 3 lakhs but it appears like u wanted to write 3 million ?
if its 30 lakhs then there is no way out >> u have to pay taxes
What’s is the difference between your payee and bank account names, I mean just the first name is different or whole name including surname is different?
Mdr,
As such i do not recall any reference in this. But i have done research on this when one of CA had told me to receive such payments with different account names. I sat and searched many forums related to adscense and somewhere deep few developers told that payee name(Name you mention in google payments section) and bank account name(name with bank) difference warning came from from google.
It there was ban after few days.
Though that ban mighy be something unnoticed as well.
So its always upto you to choose the account name.
Thanks
It is good to see an Indian thread. It will be much helpful to discuss tax issues. By the way, anyone aware of the service liability on ad revenue? If anyone earns more than 10 lakh per year, then we need to pay the service tax for the whole income. If you earn upto 9 lakhs, then we needn’t pay service tax. But if we reach 10 lakhs margin, then we need to pay 14% service tax for the whole amount, that is our service tax liability is 1.4 lakhs, this has to be collected from Admob and paid to Government ( i.e : Collect 11.4 lakhs and pay 1.4 lakhs to government). Is anyone managed to find, how to add service tax registration number to admob to collect service tax from Google play.