Criminal Trident Pack: IPC, CrPC and IEA by Sr. Adv. G.S Shukla and Adv. Raghav Arora
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sansh (not working)     05 October 2014

Freelance income

How does one declare the income from Freelance trainings conducted?

In case contract is not available and paid in cash then how is such income declared/hidden?

How many times per year does one require to declare extra income earned from Freelance?


 6 Replies

V M DAHAKE (PROPRIETOR)     06 October 2014

Dear Sir,

 Legally all income cash or cheque is income and need to be declared in your income tax return and tax paid. If cash paid is only for reimbursement of expenses incurred, it is not taxable. Person paying the amount is responsible for income  tax deduction at source ( ITDS).

dr g balakrishnan (advocate/counsel supreme court)     07 October 2014

true all incomes need be declared in relevant AY and if you earn more than rs.70,000 per yr over and above your Nil taxable income u may have to pay advance tax in dec of relevant FY.

dr g balakrishnan (advocate/counsel supreme court)     07 October 2014

also u need to pay relevant income tax amount to tax via your bank to RBI/ a/c income tax which your banker correctly advice you and that can be done quoting yr PAN number thru internet, collect the receipt and attach the same with ROI and physically deposit your ROI  at your relevant IT office and take their receipt stamp on your duplicate ROI may be zeroxed as tomorrow they should not tell u they had not recd this and that  and that way you can be safe at the tax man hands!    

VP (SR GM)     10 October 2014

True but in case of Freelance Income you also need to claim expenses against the income earned and than pay tax accordingly for the entire F.Y

T. Kalaiselvan, Advocate (Advocate)     11 October 2014

This being apart from regular income, it may be shown as income from other sources and taxes may be suffered accordingly.

dr g balakrishnan (advocate/counsel supreme court)     11 October 2014

Mr. Kalaiselvan is right.

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