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amritpatel
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by amritpatel » Mon Sep 20, 2010 10:49 am
dear experts,
am applying for tier1..am an sap professional working for an mnc as a salaried employee...my gross earnings are not sufficient to show the points..i have been taking classes for students since am a certified professional but not through any institute..there have been credits in my bank a/c from many of the students since last one year..how do i show this income as earning?
regards,
amrit
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*FC*
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by *FC* » Mon Sep 20, 2010 10:56 am
amritpatel wrote:dear experts,
am applying for tier1..am an sap professional working for an mnc as a salaried employee...my gross earnings are not sufficient to show the points..i have been taking classes for students since am a certified professional but not through any institute..there have been credits in my bank a/c from many of the students since last one year..how do i show this income as earning?
regards,
amrit
Have you been paying tax on this income through SAP training? Otherwise where is the second evidence for this income?
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amritpatel
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by amritpatel » Mon Sep 20, 2010 10:58 am
nope..i havent been paying any tax for this income..its like every month i get deposited amounts varying from 10k INR to 20k INR..but i get these students from an institute which acts as a third party..
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*FC*
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by *FC* » Mon Sep 20, 2010 12:17 pm
amritpatel wrote:nope..i havent been paying any tax for this income..its like every month i get deposited amounts varying from 10k INR to 20k INR..but i get these students from an institute which acts as a third party..
Not only will your application be refused, but there are chances that they might reject it in future. It might be considered as a breach of income tax.
My two cents ... lets see what the others might say.
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amritpatel
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by amritpatel » Mon Sep 20, 2010 12:20 pm
thanks for the update..but i started earning these after the fiscal year 2009-2010..i mean after paying tax by march 2010..i started earning after march...this i have to submit in my tax statement for the coming year..do i have to get an chartered accountant statement for this?
regards
amrit
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*FC*
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by *FC* » Mon Sep 20, 2010 12:44 pm
amritpatel wrote:thanks for the update..but i started earning these after the fiscal year 2009-2010..i mean after paying tax by march 2010..i started earning after march...this i have to submit in my tax statement for the coming year..do i have to get an chartered accountant statement for this?
regards
amrit
You need to show two pieces of evidence for this amount. You will show the bank statements as one piece of evidence. But I am not sure if the Chartered accountant letter needs to show the Gross and Net along with Tax paid.
Would like to hear from Senior posters though...
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visatier1
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by visatier1 » Tue Sep 21, 2010 9:10 am
u should be register your self as self-employed or else any business ....
you need to show
proof of register as business or self employeed
proof of tax
accountant letter
bank statement
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tier1_aspirant123
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by tier1_aspirant123 » Tue Sep 21, 2010 11:22 pm
i am assuming you are in india for self employment these are some of the documents that you have to provide:
-> Self-employed applicants only - letter from the applicant’s accountant (confirming that the applicant received the exact amount he/she is claiming, or the net profit to which he/she is entitled).
->Business bank statements showing the payments made to the applicant. (this could be normal savings account as well)
->Invoice explanations or payment summaries from the applicant’s accountant.
->Where an applicant is submitting a combination of bank statements and a letter/invoice summary from their accountant, they must also provide copies of any invoices generating during the period for which earnings are being claimed.
accountants letter is mandatory and in your case you will need to produce invoices as well
I would suggest reading the Policy document carefully all these things are mentioned in that.
Tier1 Aspirant