Indian income tax for internet based earners (adsense etc.)

Tax queries 1602 views 5 replies

M Khan

Self Employed

26 Points Posted on 05 March 2009

With the upcoming income tax return filing in India, it would be good for Indian domainers, web developers, internet based freelancers and internet based earners to discuss their Tax related questions.

My questions:

1. If domaining and web development is your sole business as an individual what types of taxes do you have to pay if you are above the Income Tax Threshold of say Rs. 150,000?

2. How long have you been paying taxes to the Indian government for your domaining and internet based earnings?

3. Is a personal paypal account monitored or governed by any rules of the Indian government agencies for transactions? Like, you need to produce your PAN number when depositing more than Rs. 50,000 in a Bank account in India.

4. Do you go to a Chartered Accountant for help on filing your tax returns?

5. Are there any Laws or provisions in the Law made specifically for income earned through the internet in India?

6. What expenses can you claim in Tax filings if you are an individual having a domaining and web development business?

7. What documents / receipts / statements etc., are most important for filing tax returns for internet based earners.

Thanks!

Replies (5)

M Khan

Self Employed

26 Points Posted on 06 March 2009

Anyone willing to answer?

Amit Gupta

24 Points Posted on 16 September 2009

Originally posted by :M Khan
"	With the upcoming income tax return filing in India, it would be good for Indian domainers, web developers, internet based freelancers and internet based earners to discuss their Tax related questions. My questions: 1. If domaining and web development is your sole business as an individual what types of taxes do you have to pay if you are above the Income Tax Threshold of say Rs. 150,000? 2. How long have you been paying taxes to the Indian government for your domaining and internet based earnings? 3. Is a personal paypal account monitored or governed by any rules of the Indian government agencies for transactions? Like, you need to produce your PAN number when depositing more than Rs. 50,000 in a Bank account in India. 4. Do you go to a Chartered Accountant for help on filing your tax returns? 5. Are there any Laws or provisions in the Law made specifically for income earned through the internet in India? 6. What expenses can you claim in Tax filings if you are an individual having a domaining and web development business? 7. What documents / receipts / statements etc., are most important for filing tax returns for internet based earners. Thanks!	"

I also need to know the same. Anyone?

Guest

Hi M,

you shall be taxed under the head "Business\Profession". There is no specific rule governing Paypal like account. If your gross receipts are below the limit of tax audit then you need not go to any CA you can file your return yourself. Nopes there is no specific rule regarding this. All the eligible expense incurred to earn those income are allowed.

Amit Gupta

24 Points Posted on 16 September 2009

Originally posted by :Tinku
"	Hi M, you shall be taxed under the head "Business\Profession". There is no specific rule governing Paypal like account. If your gross receipts are below the limit of tax audit then you need not go to any CA you can file your return yourself. Nopes there is no specific rule regarding this. All the eligible expense incurred to earn those income are allowed.	"

Hi,

Do we have to register with FEMA as the employers are not from India?