We've been advised that the reporting is done quarterly. So a statement will be provided to the freelancer every three months with the details of the tax withheld on their behalf.
hello Joanne Marie P
the problem is one of employer pay me and my pan is not added in my agency profile that time , pan is updated in my presonal profile , later on i also added in my compnay account but before that upwork charge me 100 usd as tds so is that tds i will get refund so instead of 5% am i get charge 0.75 or looking forward for your guidence how to get deducted money back thanks
Thanks for the question. Please note that we can't offer specific tax advice and suggest you reach out to a trusted tax expert or advisor. Since the transaction in question appears to had happened before PAN number was added to your account, a 5% rate has been applied. We are required to forward any tax we collect from our users to the Indian government. Going forward you should see the tax being withheld at 0.75% rate.
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.