Guys, TDS means "Tax Deducted at Source", Upwork here is the source for all work we do on the plateform so as GOI mandate they must withhold whatever percentage Govt. decides and follow procedures so it gets reflected on our accounts!
I just hope they are not having any troubles with IT department, as they mostly collect in USD so how is it going to reflect in ones account and what currency conversation rates will apply and whatnot, if I understand it right!!
Hope this gets done quickly, we all are in edge right now!
Nitin in my opinion you are right. The TDS should not be applicable for freelancers. We are earning forign exchanges. The new tax rule is applicable for transations where one pays to foriegn e-commerce companies in Indian rupee which is converted to foreign currency. This is applicable for any purchases eg from amazon.us or google us and similar.
Upwork needs to look into it in more detail and take more consultation.
Here is more details from bloomberg https://prnt.sc/uhu8o7
My name on upwork profile is Aman**Edited for community guidelines**
but on PAN CARD has name as Aman**Edited for community guidelines**
and bank account name as Aman**Edited for community guidelines**
Everything is 100% as per indian Income Tax rules and Bank laws. no issue for this.
But Now my question is how should I fill it in First Name and Last Name in upwork because it doesn't have any Middle name field. Is below correct to update ?
First Name : Aman
Last Name :**Edited for community guidelines**
Please reply me for this question ASAP, so I can fill in my pan card details.
Hi Goran, I file as a company in India. I want to use Company name under Legal Busines Name of W8-Ben, and PAN Card section. Could you please advise if that is okay ? Thanks
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