The Indian freelancing industry is spreading its tentacles far and wide. Many freelancers like me are earning successfully online and many others are taking their first baby step in this field.
While the freelancing industry gives us really great earning opportunities, taxation is always a sore issue. While the government budget has clear guidelines for conventional salary earners and businessmen for taxation, where do the freelancers go?
Some Indian freelancers ask me:
Do we even need to pay any tax?
Yes, we do.
“Income Tax for Freelancers” – the eBook
Few days back, an old reader of SocialVani, Deepa Govind, contacted me to review her book. I was really surprised to come across this blog’s reader and I readily agreed, more so after learning what the eBook was all about. Before I let out more, something on the writer herself:
Deepa Govind has been an active freelancer since 2006. She is an aquatic biologist by education, a blogger by profession and a ZOHO developer by chance. She edits scientific papers, teaches online, designs banner and ghost writes occasionally.
The Income Tax for Freelancers eBook is a condensed and filtered form of all legal jargon which we fail to understand. Taxation is really mind boggling, more so if you cannot afford to hire the services of a Chartered Accountant (CA) to handle all financial work.
As Albert Einstein rightly said:
“The toughest thing in this world is to understand income tax”.
How “Income Tax for Freelancers” Helps?
Firstly, it tells you whether you fall under the bracket of a tax payer or not. If you are earning more than Rs. 16,667 per month, you have to pay tax.
Secondly, it guides you to calculate total income and total business expenditure.
Thirdly, it teaches you to deduct exemptions and reach the final taxable amount.
Fourthly, the book will tell you how to pay advance tax.
Fifthly, when you freelancing business starts to flourish, you need to maintain proper book of accounts and get it audited. How to do it? The “Income Tax for Freelancers” will tell you.
Taxation is a vast subject and you will find it easier to understand and implement with this eBook. There are also links to important resources for every freelancer. You can file you own income tax return.
Deepa Govind also spoke with various financial experts and incorporated their viewpoints in this eBook.
I recommend every Indian freelancer to read “Income Tax for Freelancers”.
I hope you find the eBook relevant. Me and Deepa will appreciate your feedback. Tell us:
- Did you find the eBook useful?
- Is there something missing?
- What more should be added to make it better?
- …or leave your praises