Income from affiliate marketing (Amazon US, Google Adsense)

Are these stocks listed in India or US?

If in US and if you were holding it in last year then you had to file the return of income irrespective of your income below taxable limit.

Amount of tax and mode of tax saving on such income would depend on what type of income is included in this 8 lakh i.e. the proportion and in general you can save tax by investing in ELSS funds, LIC, PPF etc by investing upto 1.5 lakh.

Hope you find the information helpful if you do please rate it 5 and provide your valuable feedback for my improvement.

Thank you.

You can connect me directly and I can assist you with tax planning and filing of your income tax return.

Dear sir

please let me know wether investment in Rs 1 lakh is invested in ELSS fund?

secondly as u r earning income from affiliate marketing from amazon is so as per there policy they have been already deducted ur tax @ 30% if u have provided them the tax information to them.

If they have deducted tax then ur case will be the case under DTAA & as per that rule u will get income tax deduction up to the tax deducted by amazon.

U can directly contact me through phone consultation so that I can better understand ur situation & help u in filling ur income tax return

please rate 5 & provide valuable feedback so that I can improve my answer in future

Hi,

You can possibly adopt presumptive scheme whereby you just need to pay tax on 50% of your income.

what it means for you is that given your income, you don't need to pay any taxes for FY 2019-20. I have assumed that you have no other income.

We can discuss this over a call if you want to discuss in detail.

- If income from affiliate marketing and google adsense is bcz of your medical profession then you can avail presumptive taxation scheme where you need to pay taxes on 50% of the Gross receipts. otherwise 6% of the gross receipts

Hello,

You can use the presumptive taxation scheme, which would bring your taxable income below the limit up to which no tax is levied. 

I hope this answer satisfies your requirements. 

Regards,

CA Hunny Badlani

For complete tax filing, you can contact us directly at or take a phone consultation.

Regards,

CA Hunny Badlani

Dear Sir,

Here is my reply to your query:

As per the details provided by you, your income from Affiliate Marketing from Amazon and Google Adsense will be chargeable under the head business and profession. 

Marketing is covered under "Profession" as per the Income Tax Act, which results in applicability of Sec 44AD which states that "in case of professional income and books of accounts are not maintained then 50% of the income needs to be shown as profit and tax is to paid thereon".

As you mentioned that total income (amazon+ google) is approximate Rs. 8 Lacs, then 50% needs to be shown as profit i.e Rs. 4 lacs. 

Also, in case there is some sale of stocks then tax will be applicable on that as per the time period for which stock is held by you.

For providing you more clarity on stock, further information like date of investment, date of sale, dividend received and capital gain statement, from broker is required from your end. 

I am sending you an email in reply to that you can share the details that help us to provide you the more specific solution to save tax.

Thanks 

Divya Chugh

Dear Sir,

Hope you are doing well !!

You can take the benefit of presumptive taxation scheme u/s 44ADA. 

Presumptive taxation scheme (PTS) allows you to calculate your tax on an estimated income or profit.

Manner of computation 44ADA: 50% of gross receipts would be considered as estimated income.

Please take a Phone consultation for better understanding. We can also assist you in filing your income tax return.