Your purchase on a foreign website can attract the taxman

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letmein

letmein

Herald
To complicate matters further, the new rules also require individuals as well as businesses to report every transaction they make with a non-resident person or entity. This means, if you purchase from the Apple App Store, iTunes, Amazon’s global websites or on eBay Global EasyBuy, you will need to tell the tax authority each and every transaction done, irrespective of the amount, while filing you returns.
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http://www.business-standard.com/ar...hase-on-a-foreign-website-115081300715_1.html

People traveling to Thailand/ Netherlands should ask for a receipt :D:D:D
 
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Great, no wonder returns are getting more and more complicated. They should leave card purchases alone and stick to those who deal with cash!
 
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I have a solution.
Lets scare the taxmen.
Persuade everyone you know to make some little purchase on istore; amazon.com; ebay.com; aliexpress; and other such *foreign* portals.
I mean there should be too many purchases by too many people.
IT deptt will itself request the finance ministry to modify this rule for purchases over certain limits.
 
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this means if a person or a business purchases a software, music album, an e-book, a computer game from a foreign website, he or she will need to deduct the relevant tax. This is because the artist, the author and the company has a copyright on the product.
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The price of the product includes the royalty to be paid and all taxes. Why does India government get a cut for the copyrighted product?
 
They should request (sorry mandate) all Credit Card companies, Banks to route all transactions thru the IT Dept. Each transaction should be tagged with our PAN Numbers. This way they can monitor the hell out of individuals who are earning legitimately and fap themselves seeing our overseas transactions instead of "slapping" 1Lakh for not reporting transactions!
 
bond_bhai said:
They should request (sorry mandate) all Credit Card companies, Banks to route all transactions thru the IT Dept. Each transaction should be tagged with our PAN Numbers. This way they can monitor the hell out of individuals who are earning legitimately and fap themselves seeing our overseas transactions instead of "slapping" 1Lakh for not reporting transactions!
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They are just putting their work on us. They already get these details via PAN and instead of having to sift through all that data themselves they want us to do their work for them.
When does this new policy come into action. I still haven't filed my ITR and this will be a PITA as my overseas purchases are a lot.
 
rdst_1 said:
They are just putting their work on us. They already get these details via PAN and instead of having to sift through all that data themselves they want us to do their work for them.
When does this new policy come into action. I still haven't filed my ITR and this will be a PITA as my overseas purchases are a lot.
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Yeah, Lazy Ba*tards. I don't think its for this time, there is no section to declare in the ITRs yet.
 
letmein said:
Haha, yes, next on the government ban list:

geb.ebay.in
ebay.com
amazon.com
dx.com

etc.
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Probably they will ban the whole web here in India. I would not be surprised, at those old cronies sitting in our parliament in their preposterous dhotis and kurtas.
 
Received a bunch of things from Amazon.com yesterday. I had to give my PAN number to amazon for custom processing. Other than that, no issues.

Waiting for the taxman to call :)

Also have a few things coming from borderlinx. Fingers crossed.
 
dpandey said:
Received a bunch of things from Amazon.com yesterday. I had to give my PAN number to amazon for custom processing. Other than that, no issues.

Waiting for the taxman to call :)

Also have a few things coming from borderlinx. Fingers crossed.
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Did Amazon contact you or the courier? And when was this? Before the item left the US or after it landed in India?
 
Let's flood our taxes with each and every songs downloaded, specifying each and every track individually. So somebody who downloads 500 odd songs monthly, he will require to file a customized 100 pages tax sheet as the normal ones won't fit with regards to his purchases.

To ultimately it might come down and we no more have to show such crap.
 
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