How to file taxes for your online business?

How to file taxes if you are doing online business activities?

If you have income from these activities

1. blogging
2. online store
3. affiliate marketing

or anything that generates income from online activities then you need to pay taxes
according to e-commerce guideline.

What do you need to do?

1 . You must register an income tax file
2. You must keep documents like your payment gateway statement, invoices, purchase receipts ,  income statement, etc for 7 years
3. You can claim for domain renewal, maintenance fees, web consultant fees, internet fees and equipment, server rental, utilities and etc.
4. You can not claim for personal utilities like electricity and water bill for example.

 

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How to file taxes for your online business?

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