Tax on internet earned irregular income

if you are earning above mentioned income as business income and want to expend the same in future then you have to show as business income in itr form otherwise simply show income from other sources

The income earned can be offered for tax as business income or other source depends upon the other stream of income you are having and frequency and quatum of this income.

Sir, its not mandatory.

But payment of tax after April attract interest liability thereon.

You can declare the same under other sources as you are salaried . There is no problem. You need to pay tax after completion of the year i.e. 31-03-2017, may be in May or june.If your tax liability is above 10000 then you need to pay advance tax.

Calculate your salary income and other income after deducting expenses and then calculate tax on that. If you need you can pay advance tax

Dear Sir,

You can show this income as business income in your return, if the frequency of the income is fairly good. Otherwise, it can be considered as other income.

Please feel free to call/ revert in case of any doubts

Thanks and Regards

Abhishek Dugar

CA CS B.Co.

Hello Sir,

You have to pay advance tax only if your tax liability exceeds Rs.10,000/-

Yes, you can pay that after 31st March too but interest may be levied.

Trust this clarifies your query.

Feel free to call / get back in case of further clarifications.

Thanking You.

Regards,

Rohit R Sharma

BCOM, ACA, LLB-GEN, CERT. FAFP

Hi,

Considering you are employed, you may declare this income as an "income from other sources". To consider the activity as a business, multiple criteria have to be considered, including, frequency, quantum, your intent, etc.

Advance tax is mandatory if your tax liability exceeds Rs. 10,000. Non-compliance will attract interest.

Regards

Keerthiga Padmanabhan