My CA checked it and it's not reflecting there. I spoke to Upwork customer care and they will get back to me in 1-2 days. They said that they email the Tax form after every quarter. Is it true? Have you or any other upwork member received such email from them?
TDS deducted should be remitted quarterly, but it not followed by UPWORK so far. i believe that there is way to wait for the end of march. When tds remitted will be reflected in TRACES in ITR portal in INR, then you can file your return, moreover you need to consider UPwork fee as expense thereby you need to pay taxes only on INR credited in you inidan bank account.
Hi Nisha, Amit, Bibhas and Harsh,
Thanks for your questions. 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 that payment, and remitted in the name (and using the PAN) of the Agency.
If I am working under agency, do I need to provide my personal PAN and Aadhar details instead of the company's details? (As per the new rules of Upwork for Indian freelancers and companies)
I'd like to share the information that Lena noted on the announcement she posted here.
For those freelancers and agencies that have provided a PAN or an Aadhaar number:
We are required to withhold 0.75% of all your payments, starting with the first dollar you earn as of October 1, 2020, and forward it to the Indian government. The rate is scheduled to increase to 1% on April 1, 2021.
For those freelancers and agencies that have not provided a PAN or an Aadhaar number:
We will be required to withhold 5% of all your Upwork earnings and forward it to the Indian government. You will be able to claim a tax credit or refund from the Indian government should you pay more taxes than required.
You will need to add a PAN or Aadhaar number in order to keep the withholding tax at .75% of your earnings.
Thanks for reposting this!
Seems like we will get TDS certificate from upwork every month and we can claim Tax credit/refund if they cut extra from Indian Gov. Make sense?