I want to start a youtube channel & expect to start earning from it via ad revenue after a few months. I had some basic questions:
I want to avail taxation under 44AD. Can I avail that under my name while receiving payments in my savings account? Or is it mandatory to set up a sole proprietorship & open current account in business name for the same? (I don’t have any business or sole proprietorship at the moment).
Suppose actual profit is more than 6% of revenue (all payments received digitally) i.e. suppose actual profit is 35% this year. So under 44ad should I show actual profit i.e. 35% or the minimum allowed i.e. 6%?