Internet advertising is a very fast growing area which is providing companies a new channel of communication that can create closer yet more cost effective relationships with customers in sales, marketing and customer support. As consumers' perceptions and attitudes toward Internet advertising are prominent factors affecting their buying behavior, this study has delineated this area for a detailed investigation by examining the relationship between demographics, Internet usage patterns, and attitudes toward Internet advertising. The present study explains comprehensively software professionals' attitudes toward Internet advertising in the light of pros and cons of five different forms of Internet advertisements such as pop-up, banner, e-mail, floating and interstitial. The study considered software professionals as a sample because of their nature of job, high browsing skills, and income. The survey was conducted in India which is at fourth place in Internet users' population. Thus, the results of the study would be useful to online marketers and advertisers in formulating appropriate marketing strategies so as to exploit fully the vast potential of Internet media.