Recieving Payments
This query is : Resolved
Quick Summary
24 March 2022
I am working for a foreign company. I manage their discord server and in exchange they promised to pay me but the only issue is they need an invoice. So my question is do I need to start a company to generate invoices and recieve payments or I can get paid in crypto or is there any other way? Also what will be my tax liability
CA R SEETHARAMAN
(Expert)
24 March 2022
No need to start a company. As a consultant/ technical professional raise invoice in your name in foreign currency .
Receive payment in your Indian bank account.
Are you working in India or outside India.
Receive payment in your Indian bank account.
Are you working in India or outside India.
CA Puja Sharma
(Expert)
24 March 2022
Yes you can create an invoice in your name, no need of incorporating any company.
Further, it is better to receive the money in Indian currency then crypto to save taxes and other legalities.
Further, it is better to receive the money in Indian currency then crypto to save taxes and other legalities.
24 March 2022
Sorry I am new to this, my only issue is how can I create the invoice and recieve the payments- I mean through which medium. Also what will be my tax liabilities.
PS: Currently I am an undergraduate student
PS: Currently I am an undergraduate student
CA R SEETHARAMAN
(Expert)
26 March 2022
Send this following format of invoice filled and signed in pdf format through email.
SERVICE INVOICE
No. 01
Date:
Discord server management charges. USD. 1000
Signature
Your address
Pay to Bank account details.
To
Service receiver address.
Correct the amount.
No tax payable if amount received less than 5 lacs as this is one time event.
SERVICE INVOICE
No. 01
Date:
Discord server management charges. USD. 1000
Signature
Your address
Pay to Bank account details.
To
Service receiver address.
Correct the amount.
No tax payable if amount received less than 5 lacs as this is one time event.
03 April 2022
Above you have mentioned that this is a one time event. What if I do it monthly?
CA R SEETHARAMAN
(Expert)
03 April 2022
Register under GST and furnish letter of undertaking in GST portal to avoid GST payment.
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