Do A Indian blogger have to pay tax for his earnings !!

*** And paying Tax or not is the secodnary issue but you need to file a tax return if you are earning even a a penny..

 

how old are you?
you should start if you are 26+ of age, which is a good indication and old enough to start filing taxes. Go anywhere and ask for loans, credit card, buying a car, property buying/selling, foreign trip they will ask for atleast 3yr tax return.

Just take it to CA and show your bank statements.

 

Very good thread, it helps me to learn lots of things.

http://www.articles2u.com/finance/calculating-personal-income-tax-in-india/

 

I am following the thread and gaining good knowledge from you guyes, now I will have a word with some accountant and give him all my wifes bank statement to finalise the income tax.
Thanks again

 

To clear up te issue I once called tax department call center. They said there is no issue in this. Just keep track and information on how and why you got payment. Pay tax on time and you will not be in trouble

 

This thread I enjoyed very much. This is an interesting thread to me. Few months back I transfered Rs. 500/- to my SBI savings account from paypal. It was my test whether the transaction is smooth or not. Even though paypal says that it will take 7 days to send the money, within 24 hours of my request, the money reached to my SBI savings account. Pay pal converted it to rupees.

Another thing about this thread, earning citizens should pay the taxes positively.

 

if you are earning in Foreign Currency in India, then make sure you have all the the information regarding that money.

say you are getting paypal money in $ or affiliate income in $ then you need to have info how you earn that money, keep income statement of that transaction.

means someday your bank officer calls you asking how you getting this money, then you should be able to tell him how you got this money with proof.

Follow this steps if you want to show to government that you earn and you want to pay TAX

1. When you sale something send an money request using paypal or ask your buyer to add description on what he is sending
2. Take printout of all transactions

 

If your earnings exceed over Rs 50,000 a year, you will need to pay tax. That's what a business student told me. Just take it to your tax consultant.

 

More on this from other thread

 

no...... he's still learning

if your yearly gross income is below Rs 1,60,000, no need to pay tax.

but you can file tax return, it'll help in future for sure.

 

Raoraj is right except to the fact that there are new divisions incorporated onto revenue from online resources.When you file returns ,the auditor has to convert the dollar into that days rupee value and then only sum up the total.So your paypal transaction will be the statement of expenditure and income.This is the best way to stay on the safer side and Ive been doing this way.There are tons of disputes in online money holdings,FERA and FEMA wouldnt spare anyone
You can have exemption on the taxable income upto 1lakh apart from the expenses you show in the audit.

Am I clear

 

I also file in the way as ravikumarpandian said

 

when paypal money hits your indian bank account. Its only INR not in USD. Dont confuse between the two.

 

Yeah but foreign currency earnings are to be reported on days close value and not on the day you withdraw the money..

 

Its better to receive money in Indian Rupees from Paypal to avoid such mess on filling day rate( it may or or help you)

So for affiliates or online earners,

1.) Receive in INR from Google
2.) Receive in INR from Paypal
3.) Still there are some online advertisement company like adbrite and others which pay in USD, so those will come as foreign currency, (I think rate will be counted on which you received not e-filling date.

 

gr8 thread, got all my answers
thanks

 

Yes this year I have filled ITR for rs 5 lakh and income source was mentioned blogger and online marketing . It is a part of your earning and government can ask you from where you are getting this money .

 

Thanks for sharing a good n cool piece of information......i never knew this...!

Thanks
Cheers

 

no i don't think so.

 

only US member need to find the tax information inside their adsense account