Indian Webmasters Do You Pay TAX please come In

My honest apology to whoever got offended but imho its wrong to use such usernames and thanx for making me realise that by giving negative rep.
Sorry once again.
But I Would say again such usernames are offensive.

 

That is going a little too far.stop abusing please.I also made fun but not abused and I have also apologized.

 

WTF i got negative rep from this thread saying

stop making such comments.. ppl like you let whole indian community down...


What i did to Indian community? I was just making people to know about it so that they can pay TAX and it will be good for our country.....

I got one more negtive rep saying "You started the game"

Who is that come in front

 

What are the steps to submit tax (online business) ? Could you please explain from the beginning ?

 

do we pay any service tax/sales tax other then income tax?

 

What more explanation is required, finding a CA is first step itself as mention in my post.

Whats your query exactly?

 

To submit tax , what things are required ?

For example if someone want to pay tax , what he/she will need ?
Will CA do all the work ? or can this be done without CA ?

 

You need PAN card for it ....

 

You know accounts? Can you handle your income and expense records. Have a pan card? free time?

- If not, you need a CA buddy.

 

Have pan card Know basics of account

BTW how much a CA charge in India normally ?

 

1000Rs per year! Not sure though!

 

When we file returns do we show our Internet earnings as business or side earnings? We invest the earned money in buying and selling sites/domains so will the paypal history record do?

 

Hello,

Better show it as business otherwise you will have to pay high tax if you earn good amount.If you show it as business you can show your expenses like if you buy a bike then it will be cutted from your income so your TAX will be reduced....Better show it as business...

 

To clear all confusions,

Steps :

1. Webmastering/Internet earnings can be regarded as professional income (you're a self employed professional in this case, just like a doctor) if you don't do business under a company name. For companies, there's more complex rules and dedicated accountants are needed to keep book of records, auditing, etc.

2. No need to present each transaction detail. All you need is a personal bank account where you put your internet earnings into. Don't mix other deposits in this account for simplicity. Bank account statements for the financial year will be needed.

3. Print all your online invoices for your expenses (eg. domains/hosting, etc.) and all local invoices (eg. you bought a printer) and keep ready.

4. Goto a tax return preparer (TRP - most accountants or tax consultants). Charges are in the range 1000-1500.

5. Explain your business model briefly and furnish him:
a. bank statements
b. voter card
c. invoices and other expense detail you have.
d. PAN card
e. Tax deductible savings documents (upto 1 lac)

6. Let the TRP do his job.

7. Pay the taxes as calculated, sign the forms and collect the IT return copy when done.

To those who cannot get the first credit card for no previous credit history, the IT Return copy is very beneficial. You can get your first credit card issued by producing this document.

"Pay Tax, Karo Relax!"

Hope it helps all Indian Web Professionals...

 

Not correct completely as self employed professionals can show expenses for continuing his profession (like our equipment is a computer and we get the cost discounted from the income if we bought a laptop that year; same with hosting, domains, web designing services hired. Just remember to keep the invoice printed.)

 

Fuck I think I'll be in deep shit!

Apparently I am working for a big firm right here from home for $35K per year for part-time work and a month later it will be full time which goes close to $70K a year.

I met a CA (gosh I don't even have a Pan card yet!) For the last two years, I have been doing intermittent projects, dropshipping but since I survived on the usage of credit cards, I had to pay Rs. 15,000 a month either as minimum balance, personal loan and partial payments to the bank.

I partially maintain these bills of expenses.

When do you think is the right time to file returns?

 

Really thanks for this explanation !

What would you like to say about IEC code ?

 

IEC code??? What's that? I didn't need one.

 

I earn about $500-$1000 a month and dont pay tax at all............... its over an year now...

My dad is an accountant he says i am here so you dont need to worry... i have a PAN card ...... I hope nothing will happen to me???