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Income tax issues for Indian webmasters

Discussion in 'General Business' started by bestaffiliate, Mar 17, 2007.

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  1. #1
    I have gone through all the threads here at DP regarding income tax. Still I am not sure about the procedures to follow.

    Previously I used to submit my income tax return as usual with the tax deducted at source from my salary. Now I have earned more than Rs. 10 lakhs from my websites using adsense and affiliate programs in the year 2006-7. The payments include cheques in US dollars, bank transfers and cheques in indian rupees from Google and paypal.

    I have a few questions regarding how I should go about with paying my income tax.

    1) Can I just show the entire income as "Website Income" under Business/profession in the return? Should I need to show any proof of income? Are bank statements enough?

    2) Can I claim tax exemption for my expenses for running the website including hosting fees and money spent for purchasing or upgrading computers? Should I need to show any proof for this?

    3) When should I pay the tax? Before March 31 is enough?

    Answers from Indian webmasters would be greatly appreciated
     
    bestaffiliate, Mar 17, 2007 IP