Income earned
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 March 2010
I have self-published a book of my stories. I sell the same through book-stores as well as direct. Now the income that I receive will be regarded as Business income or Professional income. Will it be termed as royalties or income in the first place.
Also with respect to payment of taxes on such income, is it required to disclose such income to the current employer. Will it be fine of reporting such income at the time of filing the return.
Kindly clarify
Also with respect to payment of taxes on such income, is it required to disclose such income to the current employer. Will it be fine of reporting such income at the time of filing the return.
Kindly clarify
CA Ashok Kumar Sahu
(Expert)
25 March 2010
your income regarded as Professional income.
disclose such income to your current employer is not mandatory its your description,
it will be fine of reporting such income at the time of filing the return.
disclose such income to your current employer is not mandatory its your description,
it will be fine of reporting such income at the time of filing the return.
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