Read in this article that freelancer working as software developers have to file for Softex also ? is this correct ?
https://www.reddit.com/r/IndiaTax/comments/1e2gy7e/guide_to_freelancers_exporting_itites_gst_softex/
I thought need to file only gst and income tax , as i am freelancer working as software developer for international and indian clients
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Softex For freelancer ?
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SOFTEX is a mandatory certification process in India for companies engaged in exporting software and related services. This requirement is enforced by the Reserve Bank of India (RBI) to ensure compliance with foreign exchange regulations. All companies that fall under the Information Technology (IT) or IT Enabled Services (ITES) categories must file the SOFTEX form when exporting software.
- It ensures that software exporters adhere to RBI guidelines, fostering a transparent export environment.
- The process helps monitor and regulate foreign exchange transactions related to software exports, ensuring that funds are appropriately repatriated to India.
There are similar SOFTEX in other countries. This knowledge is very important. Anyone working in the foreign trade industry should know it. Penalty Shooters
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