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|Income Tax On Adsense Earnings|
It's almost time to sort out our accounts and put in the income tax returns. I have a question to all indian publishers who have been around more than one year to know this.
1) Did you pay a service tax on your earnings?
2) Can you deduct business expenses from the total income - like salary of employees, adwords, hosting etc?
3) Do you also put in your regullar expenses as business expenses? Like resturaunt bills, grocery bills etc?
4) I am not very familiar with the tax return procedures - do you have to submit your bank account records?
Also, if anyone of you know any tax consultant in Delhi who is familiar with adsense type of situation please send me a sticky?
|indias next no1|
upto my knowledge :
1. no need to pay service tax
answer for your other 3 questions :
2. Yes you can
3. Yes you can
4. Yes you should
I don't think there are any clear guidelines yet on the tax issue in India.
But there's a high possibility that Adsense earnings could fall in the service tax net as it is equivalent to renting space on your website to a third party.
Just like Government charges tax from building owners in Mumbai who display hoarding on their roof tops.
Hoardings ~ Adsense Ads
Roof Top ~ You website real estate
There was a story related to this: Google adwords to attract service tax in india:
[In case the URL is removed search for "adsense service tax india" ]
Now if Google is paying a service tax then perhaps adsense publishers will also fall in the same category.
I just finished gathering up my bills but I am still unsure about the service tax bit. I am still wondering what the old indian publishers did last year.
We are overtaxed in Canada already.
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