Should I file income taxes from my adsense earnings this year or next year?
1 year ago
Hi, I have two questions regarding filing income taxes
1- I am yet to receive a payment from google for ads displayed on my website. The amount is around 8 lakhs and the period in which this amount was earned was from 1st jan 2021 to 31st may 2022. The reason why I haven't received it is because I purposely put it on hold until it reached a certain amount.
Now, if I withdraw the amount now I would receive it in June 2022. Therefore my question is, since the financial year is from 1st april 2021 to 31st march 2022, would I be able to file it for that period even though I only receive the amount in June or should I wait till next year and file it during FY april 2022 to march 2023. I can get monthly statements to show when the income was generated
2- My second question is whether this income would be applicable under section 44AD for presumptive taxation
Since it is tax related matter as such you may go to any chartered accountant or auditor to clarify your doubts and get authenticated clarifications.
As per the facts mentioned, your query would be solved if you ask this from a chartered accountant.
My suggestion to you would be that you take up these questions to a chartered accountant who would be in better position to help you on this. Let the CA provide you better solution from both accounting perspective as well as tax.
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