Side-hustle income tax: GST, ITR, advance tax

GST threshold

• Services: ₹20L/year (₹10L in NE states).
• Goods: ₹40L/year (₹20L in NE states).

ITR-3 if you have business or professional income

Section 44ADA presumptive scheme: declare 50% of receipts as income (for professionals up to ₹50L turnover).

Advance tax dates

• 15 June: 15% of liability
• 15 Sep: 45%
• 15 Dec: 75%
• 15 Mar: 100%

Miss these = interest under 234B/C.

Keep records

• Invoices issued
• Expense receipts (laptop, internet, software, travel)
• Bank statements segregated for side-hustle

Elevatools GST Analyzer + ITR Analyzer can run a free year-end check.