05 July 2009
I work as an freelancer on the internet and make some money getting paid via PayPal. How does the taxation rules apply to me? Do i need to do something special since my income is from outside india? Do i need do anything with respect to foreign exchange laws?
05 July 2009
You have to raise bills and see to it you are getting within 6 months from the date of the bill. Secondly you should collect FIRC - Foreign inward remittance certificate from the Banker on receipt of money. Thirdly if you are collecting in any company or firm name then this will become your business income and if you are collecting in your personal name then this will become your other income.
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