Reply
cancel
Showing results for 
Search instead for 
Did you mean: 
Reply

Upwork payment entry in tax books in India

Active Member
NITIN J Member Since: Jan 23, 2009
1 of 13

Hello,

 

Am getting upwork payment in my Indian bank account.
My question is:
1. I have to take GST number ?
2. How to show this payment is by income tax book ?
3. I have to print a bill against 'upwork inc' for every payment received ?


Thanks in Advance.

Regards,

Highlighted
Ace Contributor
Manilal B Member Since: Aug 2, 2017
2 of 13

I think there's some criteria on when you should get a GST no., possibly when your freelance income is >20lacs or so. Once again am not sure. I've got a CA to do this for me this june. 

You could find one here on upwork or maybe cleartax, whichever suits you.

 

do checkout the below articles :

http://writefreelance.in/gst-freelancers-india

https://cleartax.in/s/income-tax-for-freelancers#Applicability

Highlighted
Active Member
NITIN J Member Since: Jan 23, 2009
3 of 13

Thanks for the reply.

 

As per the details there, i dont have to add gst on my foreign income. I can print the bill without the gst amount.  and i already applied for new gst number.

1. One last query is: If i got Rs. 50000 from upwork. Then i have to print a bill against 'upwork inc' for Rs. 50000 ? is this ok ? As per my knowledge its ok, but your suggestion will help me.

 

Regards,

Highlighted
Ace Contributor
Manilal B Member Since: Aug 2, 2017
4 of 13

Well I didn't print anything of that sort. I just listed out all my upwork+miscellaneous income(for the financial year) on a spreadsheet plus the expenses incurred to freelance & shared it to the CA guy along with my bank statement. He took care of the rest TBH!

Highlighted
Active Member
NITIN J Member Since: Jan 23, 2009
5 of 13
Thanks again.

My accountant told me that you have to print a bill for each payment
received in bank from upwork. I never used accountant or book entry before.

Please guide me a bit. Can you please share with me your sample spreadsheat
with sample data & proper format. This will really help me.


Regards,
Highlighted
Ace Contributor
Manilal B Member Since: Aug 2, 2017
6 of 13

its a very simple sheet. there were just two columns, first column has the source of income (upwork, chrome webstore etc.,) & the second column has respective earned amounts. that's it.

Highlighted
Active Member
NITIN J Member Since: Jan 23, 2009
7 of 13
We have to mention each upworķ payment detail in bank account OR total
monthly payment details OR total annualy payment details ?

I mean i have to send this report to CA on each month or Quaterly or
Annually ??


Regards,
Highlighted
Ace Contributor
Manilal B Member Since: Aug 2, 2017
8 of 13

I did it annually. for the period Apr 1 2017~ Mar 30 2018, I filed my tax this June/July. Usually the last date is July 31st of any year!

Highlighted
Active Member
NITIN J Member Since: Jan 23, 2009
9 of 13
Thanks.
You are helping me a lot.

I will discuss this with my account that, i dont need any invoices against
upwork. Only One excel sheet and bank statement is enough.


Regards,
Highlighted
Active Member
Ajitsingh B Member Since: Jun 26, 2019
10 of 13

Hello Nitin,

 

I registered on Upwork in this FY.  Just had similar queries as yours and while searching came across this conversation between you and Manilal.

 

So could you please share your experience, i.e. the modus operandi of showing this income in your return.

 

Thanks in advance.

 

Regards,

TOP SOLUTION AUTHORS
TOP KUDOED MEMBERS