Hello People... This thread is primarily for Indian DP members, while others are also welcome to read and post... If you're not from India, I request you to kindly mention the nation you reside in at the end of your post... As for why the thread is here, it's written right above... How are you guys saving on your tax liability of your online income? I'm a newbie growing by the day, and hence, need help from the real people facing real situations, and I'm sure there are a lot more people just like me... Please help... Thanks & Regards
When Ministers and Film Actors, Actresses can escape from tax, why not us. we are nothing compare to them...... Enjoy all your online income Forget tax
lol... I like the attitude mate... but, just to be on the safer side... I thought tax planning or whatever it should be called, is required...
how do they deduct tax ? I mean i dont have anything like PAN card or something nor do I have credit card or file returns
But your total income needs to be over a lakh inorder to be taxed right? Or is for every penny you earn online?
then you need to get the PAN card first. just show them your paypal total earnings (no need to send proofs) and pay them via check. yes true. but you can spend 50k in different tax saving schemes, so the limit goes to 175000
for Male 1.1lakh is the exemption limit and above it u can avoid tax upto a major extent buy means of buying Insurance, investing in Long term nation funds like Mutual Funds etc.., & I think better is to show all your online income as i do... As i was warned by my auditor saying that all the International funds transaction are specially tracked by some special cell of Income tax... So be on a safer side... Do all tax Planning and rest money just pay back to the Government... as they will not catch us now... They will catch us after a year or two or more taking all these transaction and cross question us to make our life hell.. Hope u probably know all this... I can also help you get some investment options which has tax saving ability with a DISCOUNT.... Anyone can PM me if u have any doubt...