Hi,
I'm a software engineer working in a company drawing a gross salary of 6L. I'm also doing part time freelance job and have earned around 2L this fiscal year. The company is deducting TDS from my salary. I'm doing freelance work for foriegn clients mainly UK. Mode of payment is Wiretransfer as USD and direct NEFT fransfer as INR (Got most of the money this way).
My queries are:
- Should I have to show freelance income while filing tax? If yes, in whih head i should show that?
- Can I show any expence such as internet, laptop etc for exclusion
- In coming years I'm planning to grab more projects and involve other freelancers to work along with me. In that case how should I plan ahead
- I have open to receive money in foriegn currency (Mainly USD) and in INR via NEFT. Which is best option for me?
CAclubindia
