42 posts DesignThemes | Elite, Rich WordPress Themes
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designthemes says

Hello! Happy Elite Authors from India…

We have crossed 1 Crore Rupees (10 Millions) as an income this year from TF :). We are in a situation to pay almost 1 million rupees as Tax.

Our tax consultant is not sure is there are any exemption available for the template/software export.

Hope, fellow indian authors earns like us can help with this situation.

Note: We withdraw the earnings every month via Swift, so getting USD converted as INR after forex service tax etc.,

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dr3772 says

Congrats

We have to pay 10% to income tax ? - this is not good :(
42 posts DesignThemes | Elite, Rich WordPress Themes
  • Elite Author: Sold more than $75,000 on Envato Market
  • Won a competition
  • Has referred 500+ members
  • Sells items exclusively on Envato Market
+7 more
designthemes says

Congrats We have to pay 10% to income tax ? – this is not good :(

We are happy to pay TAX…. Government let us to deduct all our expenses

1.Employees Salary 2.Purchases of PC, Printer etc., 3.Vehicle Purchase, Petrol Bills, Telephone Bills, Rent to Office etc….

The 1 million is after deductions :) but its heavy :stress:

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ThemeProfuse says

@designthemes Congratulation to reach 1 Crore, where are you from

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dr3772 says

@designthemes Congratulation to reach 1 Crore, where are you from

From INDIA :)

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Skywarrior says

Oh man… 10% is like a dream. In italy we have to pay… 40%?

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dr3772 says

Oh man… 10% is like a dream. In italy we have to pay… 40%?

I think you dont have to work..In italy if you will pay… 40% Tax.. :D

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Skywarrior says

haha yeah for sure. Thats why we are opening the company in UK. Worse case scenario we pay 20%

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laranz says

Its not 10%, he say that after all deduction it comes as 1 Million..

Usually if our income is above 0.8million it is 30%.

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surjithctly says

I’m also interested to know about that.

Also I have found that we do not have to pay Income tax. We should pay Service Tax as we are doing software exports(kinda).

Service Tax (Current rate is 12.36%. ) is applicable only if your turnover exceed Rs. 10 lacs. ( Your’s is 1Crore :-D ). Google Ad sense Revenue is exempted if any.

If you are doing freelance, Service tax can be billed to your clients. If the amount is deposited in USD to your bank (Bank converts to INR), No need to pay tax for that.

Faq: http://www.servicetax.gov.in/faq-29sept11.pdf

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