Hello Indian Friends... So, March 2008 is fast approaching. How many of you make enough to even consider paying taxes ? I think I would just be in the border line of paying taxes, but I dont know much about or how to go about it. Wondering who else in this forum is in such a situation Thanks gopalan
Well it all depends. If you already pay taxes and if you have transactions of your online earning to your bank account then you should disclose this thing as later it would not be a problem but if you havn't diclosed this and dont have any transaction which is related to your online earning then i dont think there is any point to pay taxes.
This site has all the answers for your Questions : http://incometaxindia.gov.in/questionbank.htm In my opinion it actually depends upon how you are earning money through web. If you own a blog/content site and your sole source of earning is Adsense, you can just wink it till the Govt comes with a way to track adsense earning of all Indian webmasters. As of now, it's really tough as anybody with a net connection can earn through Adsense. However, if you are like a middle man (i.e. providing services like Web-designing, hosting, SEO optimization) and have an offline presence by means of an office/shop etc, then you should consider paying your proper income tax. You never know who is keeping a watch on you
OK, SEEMS I FIT INTO THIS CATEGORY . I DO MOSTLY DATA ENTRY JOBS FOR CLIENTS IN US. HOWEVER, IT REMAINS TO BE SEEN, IF I AM CROSSING THE FIRST SLAB ELIGIBLE TO PAY TAX. THANKS ALL OF YOU FOR RESPONDING
haha.. Govt. hafta vasooli... pay tax.. for what? oh.. your big daddy ministers.. fine.. do it.. but my concise does not allow me to be a coward to do so. Happy Taxin