Namaste friends, I am a software engineer working as a independent contractor for a startup based in USA. This company has no India presence. They are paying me more than 20Lakhs/year. I am filing my income tax return. Should I file GST return too? My IT bracket is 30% + GT 18%. Am I supposed to 50% tax to GOI? Thank you.
Don't forget to use provision of 44ADA under which you will basically get 50% tax break. Since you are independent contractor 44ADA will apply to you as long as your annual income is less than 50 lakhs.
https://cleartax.in/s/section-44ada
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