FluffyBagel
FluffyBagel

Freelancer, need tax help.

I did not pay any taxes in 2022, since I had not made any money.

From March '22 to March '23, I made around 28L, so 14L taxable. However, I'm only seeing advance tax payment option.

How do I pay tax for last year, or is it not needed and I pay advance tax only by extrapolating this year's income.

Or is the advance tax I'm paying for last year only?

Pls help, thanks.

28mo ago
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GoofyDonut
GoofyDonut

Advance tax will be from earnings between April (not March) 22 and March 23.

FluffyBagel
FluffyBagel

nice. so whatever I've earnt between 01.04.22 - 31.03.23, that's what I am paying tax for now?

GoofyDonut
GoofyDonut

Yep, on half of it since you’re option for 44ADA

CosmicJellybean
CosmicJellybean
Kloud27mo

Contact CA this is complex and you may need GST also since turnover is above 20L

GroovyPancake
GroovyPancake

How to get started upwork doesnt work😭

ZoomyWaffle
ZoomyWaffle

You’ll need GST registration, get in touch with a CA

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