Demand cut from ₹10,050 to ₹1,310
TaxSavvy for bookkeeping
Clean books every month, without hiring an accountant.
We keep your books from bank and invoices, reconciled every month.
How we get it done
Four steps, the same for every job. You see each one ticked.
Information
PAN and GSTIN. Business bank statements
Discussion
Transactions a month?. Cash expenses?
Forms
Monthly entries and classification. Ledger scrutiny
Deliverables
Updated books
See what you get, free
Real formats, made with dummy data.
Sample Sample ₹5.7 lakh still to come in
Sample 2 receipts, ₹3.2 lakh, have no invoice
Questions, answered the CA way
Facts, Provisions and law, Analysis, Conclusion.
MUDRA loan: collateral-free business loan up to ₹20L (Tarun Plus)
- Facts
- MUDRA provides collateral-free, guarantor-free working capital and term loans to non-farm micro and small businesses through commercial banks, microfinance institutions, and cooperative banks.
- Provisions and law
- MUDRA (Micro Units Development Refinance Agency) | PM Mudra Yojana
- Analysis
- Three categories: • Shishu: Up to ₹50,000 (new micro businesses, street vendors) • Kishore: ₹50,001 to ₹5L (established micro businesses) • Tarun: ₹5L to ₹10L (growth-stage small businesses) • Tarun Plus (new 2024): ₹10L to ₹20L (for businesses with strong repayment history) Interest rate: Determined by the lending institution (no fixed MUDRA rate), typically base rate + 1-3% for Shishu/Kishore, market rates for Tarun. Subsidised for specific sectors (SC/ST entrepreneurs, women-owned businesses, NER states). How to apply: Any PSU bank, private bank, microfinance institution. Online: udyamimitra.in. Eligibility: Non-farm business, not defaulter on any loan, MSME registration (Udyam).
- Conclusion
- Udyam Registration Certificate (MSME registration, free, online at udyamregistration.gov.in)
- Business proof, GST registration / shop licence / trade licence
- Last 2 years ITR (if available) or 6 months bank statement
- Proof of business premises (rent agreement / utility bill)
Is your influencer income a profession or a business?
- Facts
- Content creation income is taxed as business/profession income at slab rate. The classification affects two things: presumptive taxation and TDS rate.
- Provisions and law
- IT Act, Sec 26 (old 28; business), Sec 58 (old 44ADA; profession) | Rule 46 (old Rule 6F) books
- Analysis
- If "profession" (Sec 58, Income-tax Act 2025 (old Sec 44ADA) eligible): Only if content creation falls under a notified profession. Freelance writers, performers, and artists are listed, but social media influencers specifically have not been notified. Most influencers file as business income (ITR-3 or ITR-4). TDS received: When an Indian brand pays you for a collaboration, they deduct TDS at 10% under Sec 393 (old Sec 194J; professional services) or 2% under Sec 393(1) Table Sl. No. 6(i) (old Sec 194C; advertising/marketing). This TDS appears in your Form 168 (old Form 26AS) and is credited against your tax liability. Books of accounts: If your income exceeds ₹1.5L in any of the 3 preceding years, you must maintain books under Rule 46 (old Rule 6F). Many influencers don't, creating risk in a notice scenario.
Creator expense deductions: what you can claim as a business
- Facts
- As a creator with business income, you can deduct all expenses incurred wholly and exclusively for the purpose of business. This includes much more than most creators realise:
- Provisions and law
- IT Act, Sec 34 (old 37; general business deductions) | Sec 30-36
- Analysis
- Fully deductible: Camera, lighting, microphone equipment (depreciation). Editing software subscriptions (Adobe, Premiere Pro). Studio rent or home office proportionate rent. Internet and phone bills (proportionate business use). Travel for brand shoots. Makeup/clothing specifically for shoots. Employee/editor salary. Prop purchases used in content.
- Conclusion
- Equipment: All cameras, lenses, lights, mics, tripods, drones, depreciation at 15%
- Software: Adobe CC, Canva Pro, scheduling tools, analytics tools, 100% deductible
- Internet: Monthly broadband, 50-100% depending on business use proportion
- Phone: Smartphone and plan, proportionate business use
E-Invoice: Threshold ₹5Cr, IRN Generation, QR Code
- Facts
- E-invoicing is now mandatory for businesses above ₹5Cr annual turnover. Every B2B invoice must be registered on the Invoice Registration Portal (IRP), get an IRN (Invoice Reference Number), and display a QR code. An invoice without IRN is not a valid tax invoice, buyer loses ITC.
- Provisions and law
- Rule 48(4); Rule 48(5); CBIC Notification 70/2019; Sec 31; Rule 48(6)
- Analysis
- What is IRN: Invoice Reference Number, a 64-character unique hash generated by the IRP (Invoice Registration Portal) when you upload an invoice in JSON format. IRN is unique to each invoice and is registered with the government in real-time. Think of IRN as the government's "acknowledgement" that this invoice exists. Which invoices need IRN: B2B tax invoices (domestic to GSTIN holder). B2G invoices (to government). Export invoices (even if zero-rated / with or without payment of IGST). Debit notes and credit notes linked to the above. Does NOT apply to: B2C invoices, nil-rated supply invoices, invoices to unregistered persons, delivery challans, input service distributor invoices. IRP portals: Multiple authorised IRP portals: einvoice1.gst.gov.in (government), and several private (Clear, Tally, SAP, etc.). All produce same IRN, choose one.
- Conclusion
- Check your aggregate turnover: if above ₹5Cr in FY 2023-24 or any prior FY, e-invoice is mandatory
- Connect your accounting software (Tally, QuickBooks, Busy, Zoho) to IRP via API or upload
- Or use government portal: einvoice1.gst.gov.in for manual upload of each invoice
- Before issuing any B2B invoice: generate IRN on IRP. Get back: IRN, Ack No, QR code, signed JSON
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