@topic starter how about transfar funds to your Bro account and ask him send funds to you by western union (they deduct fee) or exchange company (hundi, you might know that term, free of cost) in one day? and i belive you will get a better exchange rete the paypal...?
Yes , but i wan to play only legal games.. Secondly from now onwards i ll be using my own account for alltransaction. Paypal's $5 fee dosn't bother me at all
I am from surat (Gujarat) where are you from patel and nick? Let me know. I am hoping to receive check on monday. I have requested on 7th of december.
Take a copy of all your PayPal cheques (I used to do like that) from now onwards (if you haven't taken it yet), as this will be helpful in the future when your earning go above tax limits Best of luck
Net income up to 1 lakh is exempted from tax. But you can increase the tax exemption limit up to 2 lakh by taking an insurance coverage or tax saving FD etc... PS: I prefer you to consult with a CA to make these points more clear.
Thanks for that. But someone told me that the amount recieved from foriegn country is not taxable, as our country recieves foriegn exchange. I ll appreciate if someone clarifies that...
Huh, so whatever we earn from google adsense, should be taxable ? If its like $600 per month, for year it would be like 3.1 lakh rupees, so thats taxable ? I never thought of it :S p.s. : waiting for a notice from IT Department
The first 1 lakh is exempted from tax. Take a Tax Savings FD for the next 1 lakh (so no tax for that also). So you need to pay tax for only 1.1 lakh rupees. howsaat?
I always prefer to invest in LIC, Mutual funds (tax savings), FD so I can save the tax. Software is taxable at 4%. Ok its little bit off topic than the thread. Thing is yet I have not received the check. Anyone who has requrested on 7th of Dec. have got the check?