Income tax for domainers

ajf7688

Member
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Hi

Would like to know if anyone has filed income tax for income earned on domain sales in India? especially payments received via Paypal?
I have done some basic research online and found out that domain registrations, web hosting etc can act as deductions.

Also I was salaried till October 2014, so is there a way to submit both incomes while filing tax returns?
 

dnk

Active Member
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I have been filing returns for several years for domain sales and advertising, It will depend on your income.
 

ajf7688

Member
Country flag
I have been filing returns for several years for domain sales and advertising, It will depend on your income.
dnk...Was looking for a more in-depth thoughtful answer here, It's obvious that it will depend on my income. And since you have done it for several years would be great if you could share more details about your experience.

I know the normal tax-slabs apply here, we can also have 80C to 80G investments.

Was looking for the format of filing the INCOME and DEDUCTIONS as in Individual(No Business), If you have an excel sheet or link to an excel sheet of the same would be nice of you to share.

Thanks
 

dnk

Active Member
Country flag
After I left my job, I have always been filing my returns as a business/professional , preparing profit and loss, trial balance , balance sheet, even if these were not submitted to income tax . I have filled Form 4 or Sugam for filing return. It is always better to know how much money you are making or losing to take a decision accordingly. As a professional /business owner, income will be unpredictable with companies not paying as promised .
There is very little information online for small business owners, the internet in India caters mainly to salaried people and students.
Please PM for further advice,
 

ajf7688

Member
Country flag
After I left my job, I have always been filing my returns as a business/professional , preparing profit and loss, trial balance , balance sheet, even if these were not submitted to income tax . I have filled Form 4 or Sugam for filing return. It is always better to know how much money you are making or losing to take a decision accordingly. As a professional /business owner, income will be unpredictable with companies not paying as promised .
There is very little information online for small business owners, the internet in India caters mainly to salaried people and students.
Please PM for further advice,
Never Mind, Thanks
 

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