Income tax for my paypal transaction !!

Thanks Buddy,

I am only trying to give back what I have learnt from here and other forums. I guess only this attitude will benefit all of us

Regards

Jeet

 

you should speak to a C.A

 

Genious !!!!! thanks a lot repped ya

 

Bhaya, if u don't want to pay tax, then just open a separate bank ac, n use that ac for receiving all of ur paypal funds, n dont show it in audit, simple

n bhaya, tax rate is not 33 %

http://incometaxindia.gov.in/understandingit/ezfiling.asp

 

who can trace what ?

 

Bhaiya u mean opening fake bank account on someone else name,address and photo ? I better pay all my tax than opting for this !!! too risky

 

hehe, they got better things to do than to look for pennies ... they look for BIG fishes

i dont think that this lad is a biggie, its just that he dont pay taxes presently (probably a student) n dont want the auditing hassles...

he can surely get away with this

 

y phasaoing other poor banda for this bhaya

cant u have 2 saving bank accounts

 

Thanks Buddy !!

Ok, hold your breath and dont laugh so much to have stomach pain for this most dumb question of this year

I wanted to ask this earlier also when Deluxdon wrote " Green rep" for you. and you have written " repped ya" How does this help me ?

I thought forums as this is for interacting with one's queries and solutions. But I guess it has an added advantage too.. Please let me know

Regards

Jeet

 

I think better to contact your tax consultant.

 

if you make your money online, register yourself with the local tax office for self employment as i have just done
and i am 17 so you should find it no problem, i can do your books for tax etc if you want at a price

 

Income is income no matter what way you slice it.

Unless you are making payments as donations you cannot declare any of that.

However if your purchasing a business related item tools or anything to contribute to your business you can in fact write these off when filing your taxes.

 

I am in the same situation now. I am planning to consult an C.A. to get more idea on this.

 

I have been filing my IT from last 3 years.

It is no big deal. Just remember that never under estimate the people who are working in IT department.

Consult a CA. Tell him your situation. He will guide you in proper direction.

Just don't create troubles to save some money. Peace of mind is essential for any business to prosper.

 

You just contact CA and ask some investments which enough for you to save taxes. I am doing samething for 2 years now. You can check more information about 80C scheme which help to save taxes.

 

The guys who has personal account they dont need to pay taxt i think

Thanks