Income Tax On Accepting Marchent Payment
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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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https://www.desidime.com/discussions/income-tax-on-accepting-marchent-payment?page=1#post_6424122
I think PhonePe Merchant account do not count, as they don’t ask for PAN card while creating one.
https://www.desidime.com/discussions/income-tax-on-accepting-marchent-payment?page=1#post_6424139
Then how do they create ?
There is ought to be some KYC mechanism
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https://www.desidime.com/discussions/income-tax-on-accepting-marchent-payment?page=1#post_6424146
Tax is on profit not turnover.
https://www.desidime.com/discussions/income-tax-on-accepting-marchent-payment?page=1#post_6424534
How They Know About My Profit If I Accept Payment Via Upi…???
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https://www.desidime.com/discussions/income-tax-on-accepting-marchent-payment?page=1#post_6425233
Dont worry. If you accept more than 20L/year, you need to go for GST. Otherwise, enjoy!
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Yes. Plus also if annual cashback from all sources more than 60k. Welcome to the system