Can I use 44ad on youtub incom ?
if I start a youtub channel and earned like 70 lakh+(hypothetical) will I able to use 44ad on my income tax ? I know it's for businesses. But I know many people register their youtub as for business for deduction on tax and show expenses of business like camera , laptops etc . People will say youtub is a profession so go for 44ada but I talked with some of my friends who's preparing or is a CA already. Some said it can't go for 44ad and some said it totally can and some said it depends. The thing is I register my youtub Channel as business like media company in sole proprietorship. And apply for GST registration and then file LUT for youtub income GST tax. And rent a place and hire some people in the name of business. Won't it seem as business now ? Cuz it's less about profesion and more like a company doing its work for money. Plus adsence is not classified as business or profession. If this 44ad is allowed. I might able to save alot of taxes like by showcasing 6-8% profit. Plus I heard of some guys who actually did it. And I beleive many big youtubers do register their name as business brand and hire teams. So if anyone is a CA or anyone with experience of filing ITR for 44ad for youtub . Please give your opinions. I'm all ears ( but I'm still thinking this might work becuz I know india is weird country where people can find loopholes to promote illegal pan masala ads in indirectly on tv despite its banned and IT department dosent bother prisoning them )