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Tuesday, 23 March 2021
How To Make Fish and Chips
Monday, 22 March 2021
Important changes on how we capture TDS
Indian Tax Deducted at Source (TDS) on Freelancer.com earnings We will amend how we capture TDS from payments to your freelancer.com earnings, in line with the new tax law enforced by the Indian government.
For those freelancers and agencies that have NOT provided a PAN or an Aadhaar number, we are required to withhold 5% of all your earnings on the platform from October 1, 2020 and forward it to the Indian government.
For those freelancers and agencies that have provided a PAN or an Aadhaar number, we are required to withhold 0.75% of all your earnings this financial year if you have earned over INR 500,000 and then forward that withholding to the Indian government. The rate is scheduled to increase to 1% on April 1, 2021.
You will be able to claim a tax credit or refund from the Indian government should you pay more taxes than required.
How is Freelancer.com supporting you through this process?
You will need to configure your Permanent Account Number (PAN) through the Payments & financial section in your Account configuration. You can configure these details in your account now to avoid a higher level of TDS being calculated on your earnings. Click here to update your user settings.
We will amend how we capture TDS from payments to your freelancer.com earnings, in line with the new tax law enforced by the Indian government.
For those freelancers and agencies that have NOT provided a PAN or an Aadhaar number, we are required to withhold 5% of all your earnings on the platform from October 1st 2020 and forward it to the Indian government.
For those freelancers and agencies that have provided a PAN or an Aadhaar number, we are required to withhold 0.75% of all your earnings this financial year if you have earned over INR 500,000 and then forward that withholding to the Indian government. The rate is scheduled to increase to 1% on April 1, 2021.
You will be able to claim a tax credit or refund from the Indian government should you pay more taxes than required.
You will need to configure your Permanent Account Number (PAN) through the Payments & financial section in your Account configuration. You can configure these details in your account now to avoid a higher level of TDS being calculated on your earnings. Click here to add your Tax © 2020 Freelancer Technology Pty Limited. All Rights Reserved. Privacy Policy | Terms and Conditions | Unsubscribe | Get Support © 2020 Freelancer Technology Pty Limited. All Rights Reserved. Privacy Policy | Terms and Conditions | Unsubscribe | Get Support |
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