Any body knows How the TAX PROVISions for My lot Earnings
7 Jan 07
we , Indians may have to pay TDS (i.e. Tax Deduction at the Source) for the Mylot Earnings . most probably we will be crediting US$ 150 thru a Bank cheque . As it is more than Rs 5000/- , the Bank may deduct the tax as per the Government Directives ...
12 Jan 07
if it is less than 150$ then we may not have to pay the tax . but we have to fill up a form (15G) & submit it to our bank saying that we do not get any taxable income . if we donot submit the form then the tax is automatically deducted from our payment of the cheque .