Disclosing your online earning to the IT dept..

wow! I earn a pittance online (only mylot and it takes me a couple of months to reach payout).....and there's nothing really to disclose. I don't have any form of income that I need to file IT returns...even when I was working, I wasn't within the taxable income and so I didn't need to file returns.

If one files IT returns there is no other choice isn't it? Your money gets transferred to your bank account and the entry is in black and white.If you choose to spend it on ebay etc it is different.

Yes, I always disclose my on-line earnings. I have been self-employed most of my life and have always had to submit tax returns, so I just add on anything I earn on line. _Derek

hi mimpi What small earning I make here in a year do not add enough to my social security and ssi checks to make it even sensible. I am a senior citizen on Social and my deductions would make it silly to even make out an income tax form so I am not going to declare anything.

If I made a decent amount, I would. I wouldn't want it to come up and bite me later. They'll penalize the fire out of someone if they catch them.

You don't have to report your earnings until it is over a certain amount. I dont know how much you have earned, but you should look into at what amount you have to have before reporting it. Hope this helps.

Since I have earned well online, I have payed taxes and am filing my returns. The only thing I was not sure about certain things and needed some help of some professionals. I had got some conflicting suggestions from them. It's an earning, so it requires tax to be paid on it.And more so ever if the total earning including the regular job income and the internet income cross the allowable limits then one should take the total income for the purpose of tax computation. If after that no tax is required, then its ok. But if there is tax to be paid, then one needs to pay it or do enough savings to set off the tax.

If one pays income tax then they should disclose all earnings including online. This money gets transferred into our bank account so there is no way we can hide it. I have not encashed anything this past year so there was nothing for me to show this year.

I do not disclose my online earnings as to me it is only a hobby. I do not earn enough outside my regular business to worry too much about it. We can earn the first $11,000 tax free here I think it is, in a venture before we have to pay tax on it.

There is very little that you can do that hide your online earnings these days with each payment processor putting more limitations and norms on transactions. Personally, I don't try to hide my earnings as paying tax is our duty and government puts it in use for us only.

I earn money from internet mainly by doing the online survey, normally get around $20-20 each month depend on my schedule. that's not too much but it adds up.