After the ‘ease of doing business’ hit us in the form of EDF rules by our brilliant
@RBI and
@FinMinIndia, I asked my banker if he knew what needs to be done, or are we covered as YouTube/X/PayPal/Patreon earning journalists?
He said, “Sir, for last one week, we are all struggling to find ways to calm down our customers. We have not been trained on this new rule. We don’t know what details needs to be matched. But we have till October 31, should be able to figure out.”
The RBI is silent if we receive money from some patrons via Patreon/PayPal, do we need to file it? Do we need to file each one separately? Will YouTube/X that pays in foreign currency, be called an importer of our services?
What about online teachers? Freelancers? They need to create invoices for each of their posters they made? If a client doesn’t pay money, your whole business goes bust! What logic is this?
This govt goes after 95% of honest taxpayers, who maintain books, records. They are unable to catch the 5%, so they come with ridiculous rules that make your life hell. More forms, more headache. When the bank gets the ‘purpose code’, when it verifies from the company, why do we need an extra form?
Anyway, thank you
@narendramodi ji. This is the ‘ease of business’ we voted for.