Purpose of Remittance for Indian domainers.

[DNGear]

This is regarding Indian taxation.


How are you handling the purpose of inward remittance from Afternic Payouts?
Godaddy has mentioned it as P1007 Advertising income instead of a domain sale.
It seems there is a big difference between a Domain sale and Advertising income which alters the taxation as well.



Which purpose code are you using for inward remittance?
What's the best method to use in afternic payouts?
I mean local payout or foreign remittance or paypal?

Thanks for your reply.

 

[Pranavadi]

This is regarding Indian taxation.


How are you handling the purpose of inward remittance from Afternic Payouts?
Godaddy has mentioned it as P1007 Advertising income instead of a domain sale.
It seems there is a big difference between a Domain sale and Advertising income which alters the taxation as well.



Which purpose code are you using for inward remittance?
What's the best method to use in afternic payouts?
I mean local payout or foreign remittance or paypal?

Thanks for your reply.

Should you have gotten the correct purpose code to enable inward remittance from Indian bank, please guide us as well. In a quandary which one to use in HDFC Bank. Warm Regards and Many Thanks