Taxes on Freelancer Income in India OR taxes on website Developer

Taxes on Freelancer Income in India OR taxes on website Developer

Taxes on freelancer income in india

There are 2 types of the taxes on freelancer Income in India i.e –

a) Income Tax

b) GST

Income Tax on Freelancer income in India

Income tax basically imposed on the income which is earn by the freelancers. its does’nt matter that its earn within in India or outside India. so you have to always show your income to government of India by the way of Income Tax Filings in India.

Freelancer Income tax Filings or any other simple sole Propreitorship firm’s income tax filings are the same. in both cases you have to file the taxes mandatory if your earning is more than 2.5 lac in a year.

How to Calculated the Income Tax on Freelancer Income in India

Income Calculation
Basically Freelancer Income is sum of all your receipts from carrying your professional or freelancer work for your clients or advertisements income as blogger. you can use your bank statements or payment gateways or paypal or any other medium which you use to getting payments from clients or ad networks for the add receipts income.

Expense Calculation
There are lot of Expense which is incurred by the freelancer on their work. so they can claim all the necessary expenses as deduction from their income. Following are major deduction from your income –

  • Rent, Repairs, Depreciation on Fixed Assets like Laptop, office expenses, travelling for business etc.
  • Domain Registration Expenses, Hosting Expenses, Server Expenses, Paying to other freelancers or Salary to Employees, SEO or Digital Marketing Expenses or any other expenses which incurred for the purpose of earning the revenue.

Apart from the Expenses you claim the deduction also. Here is the some userful deduction for the freelancers

 


Visit HireCA.com Now