Main concern is how the income under various categories is interpreted ? for example: Paid surveys, Paid to click,paid to read emails, Paid forums etc...each one of them represents a different concept in generating on line income.
In continuation: The internet expenses, antivirus protection, software,land line rent r these deductible as allowable expenses for calculating the net income ?
Can some one help me to understand what is the taxman's interpretation of income from online business ?
In my view taxman's interpretation of the on line business will be within four corners of I T Act. The concept of tax ability , in absence of any clear provision on the on line business , is same as any other business. The concept is very fundamental and can be explained in following manner
Gross receipt from the On line business
less
All expense incurred "Wholly and Exclusively" for Earning such On line receipts
Remember the onus to prove Expense in on YOU .
Thus at present there is no problem for assessment of such income . The only lacking point maybe the awareness of these business by taxmans.
Reply:Revenue from 'Paid surveys, Paid to click,paid to read emails, Paid forums'-seems funny. I havent heard anybody making money from these sources other than those who own them. If you are serious about taxation of online income, then visit http://www.ros.ie
Reply:I assume that you are from India and these income are income received by rendering services.
children names
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment