Upgrad
LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Prem Sharma (Self Employed)     15 April 2012

Additional income

Kind Attention,

    In todays enviroment it has become essential to earn additional income. In India, government servants are not supposed to earn additional income. I have seen my colleagues who make additional income in their free time in their spouse name to avoid any problems. They make sure that they complete their office work sincerely. When I go through this forums it has been advised that either earn additional income in your spouse name or do a job that doesn't generate any record like taking tuitions in home.

 

I plan to take online tuitions in my free time, however that creates a problem. The payment will be made in a bank account which generates a record.  So I thought of selling something online in my spouse name and ask the students to buy it. For those students who buy those items online tuitions will be conducted free. So payment will be made in my spouse name "for buying items". Will it create any problem.



Learning

 3 Replies

Prem Sharma (Self Employed)     15 April 2012

I shall send an e-mail to students that if the items are bought then the tuitions are free. 

Norbu Lama (Finance Officer)     15 April 2012

Your wife shall have to obtain trading licence/VAT TIN registration and pay VAT on taxable items as well. Why not ask for cash payments in favour of your wife who can be the legal proprietor of the tution centre or let you tution centre be an unrecognised home enterprise!

Norbu Lama (Finance Officer)     15 April 2012

Your wife shall have to obtain trading licence/VAT TIN registration and pay VAT on taxable items as well. Why not ask for cash payments in favour of your wife who can be the legal proprietor of the tution centre or let you tution centre be an unrecognised home enterprise!


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register