For a visa consultant, what business category/code to choose while filing ITR. Only assisting with visa form filing, no other travel related services offered
Is visa consultant eligible to file under 44ADA?
Get a fixed amount per client 8600 out of which 3600 paid towards booking client visa appointment. If total client serviced is 50, total income is 50x8600 = 430000.
Cost of vfs charges 50x3600= 180000
Total income is 430000-180000 = 250000
Is my calculation correct? Will I then required to maintain books of accounts? How simple is to maintain accounts as my expenses and income is straightforward.
Sorry that you had to wait! You can opt for the presumptive taxation scheme under Section 44ADA and report your work as Business/Management Consultancy.
Looking at your numbers ₹8,600 per client for 50 clients - your gross receipts come to ₹4,30,000. Under 44ADA, 50% of this is treated as your taxable income, so you don’t need to separately deduct the VFS charges.
Since your income and expenses are straightforward, you don’t need to maintain detailed books of accounts, though keeping simple records is always helpful. Further, GST registration is only required if your turnover crosses ₹20 lakh in a year.
Thanks for your reply. I have read in other forums that visa consultant is not one of the specified profession. So instead can I file under 44AD and report 50% profits.