u/average_man7278

Hey all,

I am from India

I do a side hustle where I design art for bands, tattoo designs and art for apparel brands as well as I sell premade art to em.

I have a job as well.

This year the side hustle is enough to be declared on my tax filling and I am opting for presumptive income.

While filing do you opt for 44AD or 44ADA.

Thanks in advance

Salary I get from my software job. On the side what I do i explained here

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How I work:

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I either design a artwork by listing on Instagram for sale and they buy the rights for it

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People ask for making custom design and ask me the sell to its rights to them for permanent use

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There are thress of types rights :

Personal design used generally for usescases like tattoo.

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One for only merch copyright

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and other for using for everything including branding.

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These are two ways I do the work. I don't work through any freelance platform but do Directly via Instagram

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Most of the customers are normal consumers, bands and sometimes apparel brands.

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They are international clients.

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I asked total 8 CA , I got 4 saying that 44AD can be applied as profession doesn't fall under anything mentioned in section 44AA(1) while 4 said even though you sell D2C you still using your skills to create the designs so it 44ADA

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Asking questions to all freelances that design art for bands, tattoo design for personal use and art for apparel brands and charge for the rights to use .

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Do choose for 44AD or 44ADA. I don't see any section under 44AA(1) that explains my works to be falling under 44ADA.

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For 44AD, you have to declare 6% or whatever you think is profit

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For 44ADA, you have declared 50% or whatever you think is profit.

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I have started doing some side gig along with my salary income. What I basically do is. I design premade art and custom art and sell it to direct consumers, music bands and apparel brands. The charges are based on the right they are willing to have.

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So am I eligible for 44AD or 44ADA. I have asked several guys and CAs so are leaning towards 44AD since this isn't mentioned under professions eligible for 44ada while others are saying even though it's in a grey zone 44ada looks more like defensive choice.

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Thanks if anyone body helps me with this.

Hey I am about to file the earnings I did as a graphic designer. I design graphics and sold the rights to direct consumers, bands and apparel brands. Is this falls under 44AD or 44ADA.

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General people describe what they want and I design it. Then I charge money for the rights to use to earn money for themselves.

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I will be filling this year under 44ada as design and sell it on online . I do have an salary. Total taxable income will become 6 lakh from freelance after ada , 6.3 gross salary and 1.42 lakh as interest. Roughly 13 lakhs will be taxable.

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My question I can easily invest upto 13 lakhs without any scrutiny right?

Let's say u wanted to invest 20k in a stock but initially you deployed 5k. The stock rises 30% .

How to handle this situation? So you wait for it to fall or start buying stock at corrections.

I did small analysis. It's Free Cash Flow is increasing as well as the Net Cash Flow. Has a very low debt to equity of 0.25. Profits are up as well and a very low forward PEG ratio of around 1.74. Looks attractive to me. Let me know

Someone i found on fb marketplace is selling WD M2 SSD 512gb @3k

I bought this in jan 2020. Image in comments