Freelancers, work-from-home professionals DON’T have to register for GST if they make less than Rs. 20 lakhs/year. FINAL.
Isn’t that a good thing?
Good to know. But be prepared this PRO thing will drag us to GST
Hi sir. I am Indian Fiverr freelancer. Suppose my total yearly earning from Fiverr is 18 lakh then we don’t need for GST? How we can pay tax, how much income should be mendatory for income tax as a freelancer… as a freelancer how much money we can make from Fiver? Please advise… Thanks
Arrey bhai, if you are earning 18 lakhs per year, you can surely afford to hire a CA for advice? Why ask such an important question on an online forum? Hiring a CA will cost you Rs. 2000 to 3000 at the most. And no GST for under 20 lakhs.
Thanks for answering Bhai… nai nai ek estimate le Raha hun future ke liye… Matlab we just need to pay income tax on March right? Can we generate invoice on each gig… And final year Mai jab tax bharna hota Hai to Kya hame btana hota Hai hamari income Fiverr se Hai. Coz yaha to direct bank deposit hota Hai payoneer ke through…
You don’t have to mention Fiverr…just count how much money you have made and pay tax on that, simple. March 15th is the last date for paying advance tax. You can pay tax till July 31st as well. July 31st is the last date for filing tax returns.
Virendra, Yes you will have to pay the income tax based on the total amount credited to your bank account NOT fiverr account. There are lot’s of compensations as well, you will have to consult a good CA with knowledge of foreign invoicing. Additionally I think you should now register for GST.