Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
Popular Search: TDS :: Central Excise rule to resale the machines to a new company :: list of goods taxed at 4% :: VAT RATES :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: due date for vat payment :: form 3cd :: empanelment :: cpt :: articles on VAT and GST in India :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARD :: VAT Audit
« General »
 Banks warn share tax hike threatens Paris' post-Brexit appeal
 PMC may decide on property tax rebate for IT firms this week
 I-T Dept is giving out certificates of appreciation. Have you received yours?
 Government works on ironing out benefits refund mechanism for exportersa
  Tax officials are using an IDS provision to question transactions beyond six-year-limit
 Tax-free bonds rally like midcap funds
 Senior citizens do not have to pay advance tax on salary and interest income
 GST: Audit commissioners to get adjudication powers
 Interest on NRE rupee account can be exempt from tax under FEMA
 Impact of GST on Real Estate Sector
 GST regime: Tax payers allowed to take option of third-party interfaces

Queries about Tax
January, 27th 2010

I am a software professional with an annual income of Rs 4.7 lakh. On a part-time basis, I run a blog and a website where I post-sponsored posts and product reviews, for which I get paid in dollars in my paypal account, which I am planning to shift to my bank account. What should this blogging income be called and how would I be taxed for it?
Priyanka Shah

Income arising from running your own blog can be considered as Income from Other Sources. You can claim deduction for expenses you incur to earn this income to arrive at net income from blogging. Such expenses can be internet connection expenses, depreciation on your computer, expenses relating to purchases of products reviewed, travelling expenses, etc. The net income so arrived at will be added to your taxable income and would be taxed as per your applicable tax slab. You can continue earning blogging income in your own name and need not register any company for the same.

I am in the highest tax bracket. If I have also some agricultural income, is it taxable?
Amardeep Singh

Though agricultural income is exempt from tax, it is taxed indirectly albeit at a lower rate. Lets assume your non-agricultural net taxable income is Rs 3,000,000 and net agricultural income is Rs 1,000,000.

1) Compute tax on your net total income, including agricultural in-come. (Tax on Rs 4,000,000 comes to Rs 1,104,000).
2) Add the amount of basic exemption limit applicable to you to the agricultural income. Compute tax as if this amount is your total tax-able income. Tax on Rs 1,160,000 (1,000,000 +160,000) comes to Rs 252,000.
3) Deduct the amount arrived at under 2 from the amount arrived at under 1 to arrive at tax payable. (Rs 1,104,000 Rs 252,000 = Rs 852,000). Add education cess of 3% on Rs 852,000 to arrive at total income tax.

I am in the US from January 2009 and my employer is generating an Indian salary and remitting it to us with some allowance (US living allowance). I am paying the tax on all the money in the US (on Indian salary and as well as on allowance). I am coming back to India in January. I just wanted to know about the income tax rules in this scenario. On which money will I have to pay tax in India?
Sanjay Singh

Assuming that you would be an ordinarily resident in India for the current financial year, you will be required to pay taxes in India on your worldwide income. That would include your US salary/allowances for the period April 2009 to January 2010. But you would be eligible to claim credit of federal income tax paid in the US on such income in accordance with the Double Tax Avoidance Treaty between India and the US.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Internet Marketing Website Marketing Internet Promotion Internet Marketing India Website Marketing India Internet Promotion India Internet Marketing Consultancy Website Marketing Consulta

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions