Is money received through paypal after working with websites considered as foreign income.

Tax queries 1619 views 3 replies

Hi guys, newbie here.

I wanted to ask you guys that I earned some INR 75K in fy 2015-16 doing online tasks like surfing websites, affiliate marketing etc. I received money through PayPal in USD which converted it into INR and sent to my bank.

1.   Now I'm afraid that according to new black money act we have to declare any amount of foreign income and if income from PayPal is considered as foreign income then I might get penalized for not disclosing foreign income. Please tell me whether it's considered foreign income.

2.      how do we categorize such income, asa business income or as 'other income'??

3. If we have to show it as business income then did I need to have my books audited for showing loss (if I had filled itr in fy2015-16)??

4. Also if tax slabs for foreign income is same as they are  domestic Income or different??

 

 

Thanks and please help guys. Very desperate fellow law abiding citizen.

 

Replies (3)
1. It is foreign income
2. It is business income
3. If loss, audit is required
4. Slabs for foreign income is same
all foreign/indian income in india for resident , is income taxable in India pl.
good clarification and information


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