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Taxation, Paypal & Domains in India: Questions

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01-31-2010, 10:01 AM	THREAD STARTER #1 (permalink)
barcode NamePros Regular Join Date: Jun 2007 Location: Coordinates - 28.61, 77.23 Posts: 518	Taxation, Paypal & Domains in India: Questions Hello All, I am in the middle of closing a mid $ x,xxx sale on Sedo and I am in a dilemma for the payment options. 1- What should I be using PayPal or Wire Transfer? 2- Is it safe to keep money online on PayPal for a long duration? 3- Can a PayPal transaction be reversed? 4- How does taxation get taken care of: will I be taxed X% of (sale price - buying price)? 5- If I'd like to save on the tax component, whats the best way? 6- Is a sale of a domain regarded as speculative or windfall gain? Can any of the Indian domainers help? Many thanks!

02-01-2010, 03:28 AM	THREAD STARTER #2 (permalink)
barcode NamePros Regular Join Date: Jun 2007 Location: Coordinates - 28.61, 77.23 Posts: 518	Anyone?

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02-01-2010, 03:54 AM

#3 (permalink)

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Join Date: May 2008

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alemcherry is an unknown quantity at this point

Originally Posted by barcode

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1- What should I be using PayPal or Wire Transfer?

For large amounts, always use wire transfer.

Originally Posted by barcode

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2- Is it safe to keep money online on PayPal for a long duration?

That is okay. as long as you do not break any tos, there should not be any problem. But I will personaly advice you only to keep a small amount in your account.

Originally Posted by barcode

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3- Can a PayPal transaction be reversed?

Yes!

Originally Posted by barcode

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4- How does taxation get taken care of: will I be taxed X% of (sale price - buying price)?

You are supposed to pay income tax on your profit. I am not a tax epert, contact a CA

Originally Posted by barcode

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5- If I'd like to save on the tax component, whats the best way?

Contact a tax consultant. People here are domain specialists, not tax consultants. Anyway, I dont think how you do the sale doesn;t have anything to do with how you save tax. Get the money and then think about 80C.. blah.. blah.
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02-07-2010, 02:55 AM	#4 (permalink)
chandan Senior Member Join Date: Jan 2008 Location: Unblock.in Posts: 4,782 Follow @chandan123	dont use paypal those idiots are reversing transactions for indians due to their brainless technical problems check this Paypal reversing indian transactions __________________ chandan.in- Domain Names-foods - iblogs- Steroids for Sale - 074.in for 15$ Recipes- DIR-stumble 4 Sales 54 DBS-Recipes DB-Drinks DB-Jokes- book marks-Chandan

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