Hi MTurkers, I work on MTurk . I would like to know whether we are supposed to pay any taxes for working on this online job. I am now aware of these things. Could anyone help me with this?
Of course. as long as your income comes within the taxable income bracket (which right now is 15,000 per month) you will need to pay income tax. you can read the rates and stuff in income tax website. Since you live in Indian union and use all their facilities like roads electricity, you are liable to pay taxes.
Take care of that for if your total income from all sources including mturk comes under taxable income then the tax men can come anytime knocking at your door and penalize you heavily.
Hey I have a question regarding this as well. I am confused here. Will I have to pay tax if I earn something below 15000 or more than 15000 per month? I have just requested for payment for the first time on mturk and my earnings aren't more than $60. Am I still to pay the tax?
Income tax means that while working in India by whatever sources including mturk, your total personal income is more than 15,000 than you are liable to pay taxes. but if it's less than 15,000 by whatever sources than you need not pay taxes. You're an individual, you can work in a company or as a freelancer in mturk or whatever but your personal income must be more than 15,000 to pay taxes.
The indian government has some tax relaxation for exporters or people who are involved in such works which results in bringing of US dollars to India. Since mturkers bring valuable US dollars to India they might have some tax relation which I'm not very much sure and needs to be confirmed by asking a tax lawyer (or Mr. Google). When you find more info. do post it here.