Suggest me please: I have registered myself as proprietar, I want to escape taxes legally. Or want to invest somewhere (except stocks OR something) so I don't be charged on what I earn. ( for Now I deliver service in India only)

@great-area-90375 The way to escape taxes legally as a proprietor is to spend 100% of your income on stuff related to your work. So your profit = 0 and then you don't need to pay taxes 🙂

Spend your money on growing the business. Losses in current year can be deducted against profits in 7 next years.

write off purchases, in India you can write off almost any purchase (even cars) ... and claim depreciation on the purchases/assets (if it is a depreciable asset)

"Business expenses" - club everything into this from all parts - everything classifies. So taxes are quite low even if you fall in 30% brackets. That's what I do

I think only 50k OR 50% Can be shown in business expenses , correct me if I am wrong

Nope. You can even show 200% I think you should speak to a CA. 50% is if you want to file under the consultant scheme in which you can claim a flat 50% without maintaining books.

hey all, could anyone point me to any resources detailing out the financial logistics of working remotely in the indian context? I’m reading things like sole proprietor, opc etc and am a bit lost. @loud-glass-33663 @swift-pilot-25722 @abundant-jackal-54634 mentioned some great tips above, but noobs like me could definitely use some explanations. It might be a nice addition to the Guides section on the website too https://content.remoteindian.com/collection/books/ cc: @calm-grass-85557

We’ve had some discussions about this in #finance. Check them out if you haven’t already.

oh! didn’t know there was a dedicated channel. thanks! will check it out now

@narrow-holiday-71282 - yep. Please check out the #finance channel. If you have any questions post that, please put it there. Everyone's cases are unique - we could compile a list of questions and people on this group could attempt answering them the best they can -- and then we can have some CA also come and mark our answers. Might be a good exercise. @calm-grass-85557 What do you think?

That's a great idea Saurabh 👍🏼 Happy to do that after I have the compiled list of 50 threads ready.