Tauseef (Self Employed) (69 Points)
09 April 2017I recieved Interst, salary and youtube adsense income (Part time work on website or youtube). Google transfers this earning in US dollar and bank converted it to indian rupees. As per the instruction of income tax website "Any resident having income from any source outside India" can not fill ITR-1.
What is the best ITR ?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160332 Points)
Replied 09 April 2017
Any tax deducted? You may select new ITR 1 or 4 depending upon TDS, if any
Tauseef
(Self Employed)
(69 Points)
Replied 09 April 2017
No.
No tax deduction. NO TDS. Only bank charges for conversion and sevice tax on that charges.
Tauseef
(Self Employed)
(69 Points)
Replied 09 April 2017
If any tax was deducted, it should be reflected in my 26AS but no transaction in my 26AS.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160332 Points)
Replied 09 April 2017
Which Financial year? For FY 2016-17
If you consider Income from Adsense as Income from Other sources then you can file ITR 1
If you consider Income from Adsense as Income from Business or Profession you can file either ITR4
Tauseef
(Self Employed)
(69 Points)
Replied 09 April 2017
AY: 2016-17 also AY: 2017-18 (only TDS deducted from Indian income not on foreign income).
Tauseef
(Self Employed)
(69 Points)
Replied 09 April 2017
Is any law to consder as income from other source or Income fromm business or profession. or it is choice of person ?
Tauseef
(Self Employed)
(69 Points)
Replied 09 April 2017
But Sir , as per instruction "Any resident having income from any source outside India" can not fill ITR-1.
If TDS or tax not deducted from foreign income am i still eligible for the ITR 1 even its a foreign income.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160332 Points)
Replied 09 April 2017
As your income from Adsense is not primary income and can be considered under income from other sources. But if the income is taken as primary income (by considerations received, and also amount of expenses, deductions, depreciation etc.) it can be considered as Profits from Business & Profession.
Yes, you are right, but the income from blogging and/or adsense is generated in India.
Abhinav
(CA)
(397 Points)
Replied 12 April 2017
It is a tricky issue, but in my view, given the severe penal consequences of Black Money Act, it is better to disclose adsense income as "foreign" income and make relevant disclosures in Schedule FSI of the appropriate return form. Thanks!
Tauseef
(Self Employed)
(69 Points)
Replied 13 April 2017
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