04 September 2016
I am a freelancer IT engineer and a citizen of india residing in india. I had deliverd some online lectures to some of the US students from india. Now they want to pay me for my lectures and want more lectures on IT for which they are ready to pay. Should i direct them to transfer money to my normal saving account in SBI/ICICI or should i open a new account. they will be paying me 3000-5000 USD per month for 50 lectures i.e USD 100 per lecture but they will be paying lecturewise not monthwise So what i will be getting is usd 100 or 50 , but frequently in a month. pls also tell me the tax implications here in india ?
05 September 2016
The amount may be credited in your normal SB ac of SBI/ICICI. Ask your bankers to take care of reporting requirements of RBI. Applicable income tax is payable in India on this income.
CAclubindia
