August 15, 2022 / INCOME TAX

FAQ’s on online Tax Filing of Blogging income

online ITR Filing Of bloggers income.

Table of Contents

FAQ’s online ITR Filing of bloggers income.

Q1. How do bloggers file taxes?

Tax Filing is liable to be paid on income accrue & arise from doing blogging services in India. Most significant benefit of Tax payment on time & filing Income tax return is that only earning you filed on your income tax tax return is recognized as your actual income.
Amount disclosed in his income tax return will be acceptable as valid proof of your income, In case you are compelled to disclosed his income in the upcoming days.
This income tax filling benefit process can be see & properly understood by assistance of e filling CA Services like with us at www.caindelhiindia.com

Q2. what are the basic souse of income of Blogger ?

Sources of Revenue For a Blogger : different sources of income for a blogger to getting income from the blog writing few are mentioned below:

- Affiliate sales
- Advertisements
- Paid review
- Others

Q3. How blogger will be taxes ?

Blogger Income will be taxed under the head Profession/Business :

- Under this head income from PGBP as per the Income Tax Act, the Assesses have to pay taxes on the income in P & L A/c after taking into consideration the total Recipt & expenses and payment of taxes on the net income earn by the blogger.

Q4. What are the allowable Expenses ?

Blogger expenses will be allowed under the head Profession/Business

blogging income will be taxed as business income under the head PGBP, so Few expenses are allowable. All this kind of expenses will be deducted from the total sales revenues receipt and the income net of expenses will be taxable under the hand of Blogger. Allowable expenses to the blogger are as under

- Payments to freelance consultants exp.
- Convenience Exp.
- Employee salaries.
- Domain hosting exp.
- Utility expenses such as electricity, telephone, etc. exp.
- Incurred Rent expense.
- other related Exp. which is incurred for getting that receipt .

Notes :

allowable expenses must be incurred for the income getting from his activates of blogging. similarly Expenses incurred have to facilitate income generation for business.
Blogger required to be hold bills & receipts of that expenses as valid proof of expenses made by him.

Depreciation allowable

Blogger also buys assets that are required for the operation of his business. Asset purchases, such as computers, furniture, and office equipment, cannot be claimed in full in the year of purchase.
The expense of the assets must be spread out across the asset’s lifetime. Depreciation is the process of allocating the cost of an asset over its useful life. Depreciation is another allowed expense, which the blogger can subtract from his earnings to arrive at Net Income.
Just like any business, the blogger also purchases assets that are necessary for the functioning of his work. In the case of asset purchases like laptops, furniture, office equipment, the cost cannot be claimed fully in the year of purchase. The cost of the assets must be distributed over the life of the asset.
This apportionment of the cost of the asset over the life of the asset is termed as Depreciation. Depreciation is also an allowable expense, and the blogger can reduce it from his revenue to arrive at Net Income.

Investments Deduction

Bloggers can also save income on taxes by investing their earnings in few products such as mutual funds, LIC& PPF. under section 80C of the Income Tax allows you to deduct blogger investments.
All the such deduction for the specified investments has been allowable as per the thirst hold limits given under the Income Tax Act 1961.

Q5. Is income of Blogger require to pay income tax?

Yes, Income from Blogging activates is come under ‘PGBP.’ You will be fined a penalty under Section 234F if you do not pay your income tax on time. If the return is filed after the due date but before December 31, 2020, a penalty of Rs 5,000 is imposed.

Q6. Is we can file Income tax return for Assessment Year 2021- 22 now?

The Income tax official web site for the Financial Year for 2020-21 is ready for income tax return filling from Sept 30, 2021. This means we can initial filing your income tax return & related taxes on Thursday, Sept 31, 2021.

Online ITR Filing Amendment – FY 2021-22 (AY 2022-23)