Tax liability of a freelancer

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

01 January 2011 Hi,

I am a freelancer and registered with various freelancers websites available. The project bids and payment is done in United States dollars and after paying the websites fees and payment transfer charges, I get paid in dollars directly to my bank account. The earnings are received in INR in my wife's HDFC bank account.

I would like to know the liability of Income tax in this case on me as well as on my wife.

CA LOKESH KASAT, FCA, M.Com

CA LOKESH KASAT, FCA, M.Com (Expert)
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01 January 2011 It will be clubbed in your hands, and will form part of your total income

Querist : Anonymous

Querist : Anonymous (Querist)

01 January 2011 Thanks for the reply.

But the money is paid in the account of my wife. All ledger statements are provided in the name of my wife. Shall it be considered my income or my wife's income?

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Querist : Anonymous

Querist : Anonymous (Querist)

01 January 2011 And apart from that I've spent about 1 lakh towards Internet cost, Computer, embedded device required for the work. All these items are purchased in the name of my wife. Can I get the depreciation deduced as expense from the total income?