Can someone from India guide me on how you go about filing your returns for your earnings from Upwork?
There is no option to generate a statement for the financial year (April 2016-March 2017) on Upwork. How do you then generate your statement of income for submission? Will the same tax laws/slabs be applicable for these earnings?
Thanks in advance!
You can sum up all the remittances received in your bank account from Upwork during the year and add the amount receivable from Upwork as on March 31 2017 to ascertain the total turnover for the year ending 31st March 2017.
If you are getting professional fees from your clients from other sources (like Paypal or direct transfers to your bank account), you will have to add that also to ascertain the turnover for the year.
Also, just to keep you posted, all the freelancers providing services to clients outside state, needs to get themselves registered in GST, from July 01 2017 onwards.
If you have any other query with regards, please feel free to contact.
CA. Ankit Tulsyan
What exactly needs to be entered under the field 'Legal Name of Business' on page https://www.upwork.com/ab/payments/tax-info?
Am assuming leaving it blank is not an option since the page says 'Before withdrawing funds, all non-U.S. persons must provide their W-8BEN tax information.'.
And obviously, we want to be able to withdraw funds from our accounts.