I have been freelancing since Dec'23. They connected my account details via RIPPLING. They asked me to fill a form (W8-BEN) in which I had to add my PAN.
I pulled 26AS for 23-24 but not seeing anything from this company in there.
Since this is my first time doing freelancing I'm not sure how to move from here. Should I add it as income from foreign sources? Or I need to do something else.
If someone has any experience in this field do enlighten me please 🙏
If your total income is less than 50 Lakhs then you are eligible for presumptive taxation u/s 44ADA, this limit increases to 75 Lakhs if your cash receipts is less than 5% of total receipts or you can say 95% or more receipts are through banking channels.
Eg. Total income - 20 Lakhs Taxable income u/s 44ADA will be = 20L x 50%= 10Lakhs And you have to pay tax on 10L instead of 20L under normal provisions.
You don't have to maintain Books of Accounts under this.
Don’t check Form26AS, that has become obsolete from few yrs. Prefer AIS and TIS forms.
Hi, I have a proper full time job. I freelanced for a month last year. They got my PAN and whenever they paid me in my bank account, total amount is ~1.4L, they deducted TDS under 194C (it's 1% TDS). This freelancing income is listed in ...
Just want to get inputs from those who freelance along with being salaried. I am wondering how people do ITR filing when they’re directly receiving payment from their clients abroad (inward remittance) on their own name (no company creat...
I currently freelance but I've also got a full time job offer.
Can i continue taking freelance income in my salary account or should I avoid taking freelance income under my PAN and get that in maybe my parents account?
