Hello i have been into web field from past 2 year but now my earnings are increasing in lightning speed . all my money comes from paypal to my bank account so i wanted to ask do i have to pay tax for that ? and if yes then on what basis do i have to pay looking forward for your help Thanks
depends on how to show the income. if you have no other source of income and are a full time webmaster, you can deduct your work-related expenses from your income. after that the tax slabs apply. for assessment year 08-09, these rates will apply: http://finance.indiamart.com/taxation/income_tax/rates.html I suggest you consult an income tax consultant.
I dont earn much online. and i do regular day job too. how do i pay tax for my paypal earning alone? or should i dont worry about that?
Well, if you can get you funds out through some other way then i think you can save a lot of money. Like you can get some offshore account and withdraw your paypal money to that account.