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Tax for Affiliate Marketing in US ?

752 views 1 replies

whvoice

Freelancer

24 Points Joined February 2011

Hi all,

I just completed my engineering. I owned some websites from long time and I earn money from affiliate marketing. I used paypal till now . I have a office with no board display or trade name. I have 10 employees to maintaing around 50 websites all earns from affiliate marketing. I am getting paid from US - paypal / wire transfer / check.

I dont know anything about tax even the ABC. Just got PAN card. Please help me. is tax applicable ? And What i need to do to make me safe in future.

Thanks in advance.

Replies (1)

Devendra

Chartered Accountant

4780 Points Joined March 2009

Yes. You are liable to pay Income Tax if your Income for the year goes above Rs. 160000 (Assuming that your business is Proprietary ie. Sole Owner). The income earned by you is taxed under the head Income from Business and Profession. You can claim expenses incurred towards the business.

Regards,

Devendra Kulkarni