this is rahul and i came to know about this site from my friend .
By the way i have a galaxy y and the main reason for joining this site is that i want a bit of information about rooting because i heard that rooting my smartphone allows me to access the internet of my pc.
If you want to tether your galaxy as a wifi hot spot root is required, but if you could deal with tethering via usb cable root isn't required via "klink" from the market.
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Welcome rahulnanda599, I am happy to welcome you to the AF community!
Fortunately enough what dragonslayer95 posted is the root guide and should help you if you need to root your Galaxy Y.
I am kind of confused what you are talking about with the internet thing. Your phone should be able to access wifi without being rooted. Now if you are talking about controlling your phone from your pc or vice versa there are apps for that, that i do not think require a root, it just takes some time of Searching the Google Play store.
hope this helps
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I don't believe reverse tether can be done, but you can use your phone off WiFi, but cannot use it for radio service without having a service plan on it. Hope that answers your question, at least that I am aware of.