Category Archives: Freelancer

Taxation of Home Tutors

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With the advancement of education, the techniques and study habits of children these days are also changing for better! Parents, nowadays prefer home tutors for their children as they do not have enough time to look after their children’s studies due to their busy schedules. As a result, the number… Read more »

Tax-audit of Business/Profession

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The term Audit refers to an inspection of the Books and Accounts of business. Audit could be done by any person who is within the organization or even by a third party. The types of audit vary according to the statutes and purposes. Hence you may find various types of… Read more »

Book-keeping and Maintenance for Business/Profession

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Running any business/profession is not only about making money. The taxpayer owes to the society in return and hence is bound to carry all the activities in legal ways. Also he should pay all the applicable taxes to the government. For calculating the taxes payable, taxpayer is required to keep… Read more »

TAX DEDUCTED AT SOURCE (TDS)

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What is TDS? TDS means Tax deducted at source. Tax is deducted by the person while making the payment to any other person. TDS is an effective mechanism by which Government can reach a vast revenue bracket. Income-tax Act have bifurcated the TDS provisions according to different kind of payments… Read more »

Eligible expenses for freelancers

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During the course of freelancing, a freelancer spends money on various expenses. Expenses which are directly related to freelancing are allowed as deduction from such freelance income whereas there are some expenses which are specifically not allowed as per the Income-tax Act, 1961. A freelancer should fulfill ┬áthe following conditions… Read more »

Taxation of Freelancers

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Who is a freelancer? Ans.:- A freelancer is a person who is self-employed. Freelancers sell their services to the clients, work independently or use professional associations or websites to get work. What are the fields or professions where freelancing is dominant? Ans.:- The fields or professions where freelancing is dominant… Read more »