Income Tax On Accepting Marchent Payment

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Deal Subedar
Hi.Debasish

Many Of Us Creating Airtel, PhonePe, Gpay, BharatPe Fake Marchent Account To Loot Cashback…
So, If We Received More Than 2.5 Lakh Payments On Our Marchent Accounts in an Annual Year, Will We Pay Tax For That..???

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Pro Entertainer Pro Entertainer
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Yes. Plus also if annual cashback from all sources more than 60k. Welcome to the system

Deal Subedar Deal Subedar
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I think PhonePe Merchant account do not count, as they don’t ask for PAN card while creating one.

Pro Community Angel Pro Community Angel
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flushed Then how do they create ?

There is ought to be some KYC mechanism

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Tax is on profit not turnover.

Deal Subedar Deal Subedar
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How They Know About My Profit If I Accept Payment Via Upi…???

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Dont worry. If you accept more than 20L/year, you need to go for GST. Otherwise, enjoy!

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