Seems, Now Freelancers are buried under Upwork fees, Connect fee, Direct Contract fee, and Now TDS. I am paying taxes every year on time. I mentioned my whole income there. Don't know why the TDS comes now?
After TDS, we have to ready for TDS fees from 0.75% to 1% from 1 April 2021 and this will continue increasing.
Details Here - Upwork Membrship - $14.99, Direct Contract fee 3.4%, TDS - 0.75%, Transfer to Bank fees - $0.99
One more, Upwork never gives the current currency exchange rate. Now in stocks, the price of $1USD is - ₹73.3800/73.4327
But when I tried to transfer money to my bank account, Upwork show - 71.7400 USD/INR
We are paying taxes, transition fees, TDS. Please let me know, why you are not giving the full value of USD to INR?
Indian GST law says in case you are provding export of services and your export receipts are below 1 Core, you need not to pay GST on export of services. You have to submit letter of undertaking online at GST website.
Upwork has started taking GST number from agencies doing work from india at upwork. Though it seems optional primafacie and upwork has provided this for future set up of upwork permanent office in india.
Could you all give more light on the subject on this community so that more clarity on upwork stand with resepct to LUT with respect to small agecies working on upwork.
Thanks for your question. Could you please clarify if you're referring to the GST or TDS charge? Also, could you please provide more information about the specific agency-related scenario you're asking about, so we could advise you in more detail?
I have freelaner account in upwork and I withdraw funds to my company's bank account.
So to get the credit/regund of TDS, Should I add my company's PAN number or my pesonal PAN number?
Thanks for revert.
I have already taken advise from tax expert, he saiys to get credit I have to add company's PAN number because I receives payment to company's account.
My question is UpWork allows me to add my company PAN number in my profile tax settings?
If you've managed to add either your PAN or Aadhaar number successfully, i.e. it was accepted and you didn't get an error message, you're good to go. If a freelancer is working on a contract under an Agency, the payments go to the Agency's account. So the tax will be withheld on those payments and remitted in the name (and using the PAN) of the Agency.