How Income Tax on Freelancers & Professionals is Calculated | Tax Planning For Freelancers | 2022-23

Download Swipe FREE Billing App from Google Play Store:

Watch how to create GST Invoice:

This is a complete Tax Planning Guide for Professionals and Freelancers. As a freelancers you likely have several questions: How to save taxes? What is presumptive Taxation? This video will simplify everything.

-------------------------------------------------------------------------------------------
*** Invest & Trade in Stocks & Mutual Funds ***
Open your Discount Demat Account here:
-------------------------------------------------------------------------------------------

Topics Covered in this video
how tax is calculated on freelancers
how tax is calculated on professionals
how income is calculated for freelancers as per income tax act
income calculation for professionals
presumptive taxation scheme section 44ADA
tax on hospital
tax on accountant
tax on advocate
tax on technician

-------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------
How Income Tax on Freelancers & Professionals is Calculated | Tax Planning For Freelancers | 2022-23

#BankingBaba #Taxplanning #Freelancer

[sudeepmathur]

Very nicely explained. Just wanted to know if an Employee is kept as Retainer after retirement, then what will be TDS & what will be tax implications on Retainer fees that he gets .

[bajrangchapola]

Its very Informative and well explained.
Thanks for sharing such a good content.
I have a quick question, If we are getting salary monthly in account in INR using wise transfers.
When we can pay such tax - monthly, quarterly or at year end ?

[PrashantGawade-zb]

This is good one. Any change for 2023-24

[RonjanaDeb]

Can salary paid employee be a freelancer in other company as legal adviser.?
What is the rule.
GST no is required for the retainership?
Annual income will be approximately 15 lakhs.

[batmanz.]

Brother one more thing to be curious about.
If gross receipts is 40L. Can we make like a company which is a separate entity & take a professional pay out of this company. Such that company earns 20L & I can earn 20L so that I can reduce tax?? If so which type of company to open

[ib]

Plz make updated video of tax as per 2024 for freelancers or it consultants

[harmanbhatia]

20 lakh ki receipts hai to tax 50% 10 lakh pe hi lagega to balance sheet pe capital 10 lakh profit ki add hogi ya poori 20 lakh ki

[TheAnshKhurana]

If someone is drawing salary and freelancing income as well, shall both be added while calculating tax or both can be dealt in different ways ?

[theprakashmandal]

Affiliate marketing ka income taxable hai kitana percentage??

[forsharad]

Thank you. Please can you tell, I should register a sole proprietorship or LLC or anything else for tax saving or just taking GST No. will do?
I am a software IT freelancer serving foreign clients >20 Lakh per year.

[binodpaswan]

sir ji pl advise tax for 23-24 as tax slab has changed drastically .it will be great help

[azeemahmad]

Thanks baba❤️
Make more videos sereies wise👍👍

[devinderkumar]

Sir, how can avail benefit of both rent and home loan interest please clear

[rahultuteja]

nice explanation, my question, let's say i earn 30 lakhs as a software developer freelancer, and and i opt for 44ada, but my expenses are only 5 lakhs, still can i show 15 lakhs (50% of 30 lakhs)as my income while filing income tax?

[DeepakGupta-qvyc]

Sir standard deduction of 50000 yaha pe applicable nahi hai kya ?

[sumitmitra]

If i have to file under section 44ADA for AY23-24, then is the last date 15th March 2023..?

[theprakashmandal]

Yadi 20L hai to 10lac ka income kaise declare kar sakta hu koi evidence dena hoga??

[Akash]

hi mere monthly transation bohot hai but income bohot kam hai kya kare

[anishhirlekar]

Thanks for this . Can you tell me how to file ITR if I earn a salary from a day job and also get professional fees from freelancing side by side?

[mohdaamirkhan]

job and chegg which itr to file please ?