Tax on freelancing

Queries 288 views 1 replies

Faiz Alam

Employee

68 Points Joined October 2012

Hi,

My friend is working in IT Company having Salary of Rs. 5 Lac p.a. In weekend he is busy with Freelancing. Last month he has earned Rs. 30,000/-

So my question is Does he needs to pay any tax on his FreeLancing income?

Replies (1)

CA Bhargav Nathwani

CA in Practice

8307 Points Joined August 2012

Dear Sir / Madam,

It’s voluntary thing. If you want declare it to be income then you can declare but generally people are not choose to not declare. It’s not fixed in nature and also not sizable so you can avoid it. If you want 100% perfect return then you can add to your computation of income.

With regards,

Bhargav Nathwani.