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Freelancer here
I give services to people from US & Europe and I am making around 15-20,000 Rs/month and I receive money through paypal. will they ( Banks & IT department) ask for explanation for international transactions even if they are as low as 5$ and income is less than 2.5LPA
Replies (5)
Yes, keep the records and file ITR.
But i don't think I have any explanation because its just supply demand service on social media
But based on your paypal credits to bank you can file return.
I am a student and i may make only 60-70,000 during my breaks (like dec and june) and this is the only time when i am free for this job so will they ask me early or after computing whole year Income because i may make less bcz of my studies
No query now. It may be only after the filing of return, that is after year end.
Generally query not raised if corresponding return filed and total income below basic exemption limit, so relax.
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