Taxes I pay as a remote software developer vs a FAANG job

As a remote SDE, there are multiple ways you can fulfill your tax liabilities depending on your annual income and location. Learn more about the world of taxation as a freelancer, including 44ADA, purchase parity, and overseas registrations.

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[ninadambade]

44ADA is not a tax saving scheme rather its just exemption from maintaining the books of account. So you still have to pay tax on (revenue - expenses), not 50% of your revenue. Just that you are exempted from maintaining the books of accounts.

[Alokkumar-cqtx]

I'm Aspiring SDE.. I watch your all videos & learn many new things from it. It also kind of motivates me to push my self.Also your confidence and communication skills are 🔥

[rajatpatel]

Thanks for sharing this. We developers who are starting up don’t really have these ideas and end up leading the hard way after losing a lot of money. Thanks a lot for this

[rnldpj]

The limit for presumptive taxation(44ADA) has been revised from 50lakhs to 75lakhs during last years budget. Also if your salary exceeds more than 20lakhs per year, then you need to have GST registration and raise GST invoice with 18% extra to the monthly bill(my CA just asked me to register for GST). After paying tax and 18% GST, I think the net amount you have to pay as tax is more than what you will pay as a regular full time employee.

[kalusharma]

44ADA is just freedom from keeping accounts. If you earn 49.999 LPA and pay taxes on 25 LPA and your expenses really arent anywhere near 25 LPA then you're in trouble.

[AnkurSingh-gplq]

Was just getting started with my freelance journey got my first client and this video was just in time. Thanks a lot harkirat.
Also pls make a video on how to get more clients in the technical sector of freelancing.

[navaneethneeth]

We really want these kind of videos more and more . I ersonnaly have zero knowledge on these topics. I do not even know about most of the terms you mentioned. Also one honest suggestion please explain the concepts in more detailed manner with some relative examples to understand and your pace of conveying is so fast please slow down a bit. Most useful videos brother!

[bharatsaraswat]

Very crisp, you're humble. Thanks man!

[nimitbhandari]

That is a great summary of the information that took me a few months and countless websites to scan. Great work! Would you mind sharing how you keep track of your expenses as I understand you are making the above limit for using the 44ADA in a ball park ? That part is still very confusing to me on how to keep a track of all the bills and expenses as a freelancer and also insurance - health and life that we need to manage ourselves when you are not a full time employee 😕

[shubhambansal]

Setting up a company in foreign country may be benificial in the long run of say 15 - 20 yrs, considering both of the couples are working remotely. Savings of tax will me humongous. What your take on this?

[sourabhkasbe]

How to work remotely?Where to apply for?How to get high paying jobs remotely?

[royz_]

The limit is now 75 lack for 44ADA if you are receiving less than 5% of your income through cash.

[saurabhsharma]

Your videos are really informative.
No fluff

[kritisinha]

I find your videos very interesting, even though i am doing MBBS

[sandipanhaldar]

Harkirat thanks for this video
1. Can you elaborate on what kind of company can be created to avail for 44ADA .?
2. Say my net income >50 LPA, can I draw a small amount as a salary from the company I created and keep the remaining amount with company to save taxes?
3. Can I set up a company in US (instead of Dubai / Singapore) and only draw a smaller amount in India.What kind of tax laws will be applicable in that case ?

[rudrasYT]

Please make a video on where to find remote jobs in all the domains and how to get a remote job

[abhishektripathi]

I actually used the last option, it took me 3 months to prove the manager of a bank I was taking home loan from, that I AM EARNING

[shivamalk.k]

It's literally video for people suffering from success (me have no job)

[Tatvam-Rajyaguru]

how to start in freelancing ?
how to get us based clients at earliest ?
thanks harkirat bhaiya for insightfull videos 🙌

[shubhamkant_]

Please share your experience working in a remote job.
Was it hard because of different timezone?