Freelancing - income in foreign currency

I provide software services for foreign clients and receive payment in USD to my personal bank account.

Questions


Do I need to pay Service Tax ?

That shall depend on palce of utilisation of services being provided by you.

Do I need to get audited ? (My income is above 10 lakhs)
NO, the benchmark of 15 lakh is on the receipts and not incme.

Do I need to get IEC ?
Answer shall depend on services being provided by you.

Are there any FEMA rules I need to be aware of?
Answer shall depend on services being provided by you.

Will I come under section 44AD ? Will I come under section 44AD even if I establish a sole propietorship ?
Answer shall depend on services being provided by you.

If I come under 44AD I need to pay just 8% of payments as tax ?
Yes, but the answer shall depend on services being provided by you.