Freelancer receiving payment in savings account from Overseas client.
2 years ago
As a freelancer is there is a problem if I have received the money in my Savings account from an Overseas client? Is there any limit to which I can receive? I m told that there could be a penalty levied on it. May i know any relating clause or income tax rule regarding that?
A.Hi,
It is important to mention your source of income and to file income tax return depending on your income. If you receive payment by doing any act which is forbidden in India, it will lead to an offense.
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It is important to mention your source of income and to file income tax return depending on your income. If you receive payment by doing any act which is forbidden in India, it will lead to an offense.
Please rate my answer
Thank You
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A.As long as the amount is not large the RBI and other authorities do not trouble you but once you cross the threshold limit then you will be liable to answer all the questions from the authorities. To know all details in threadbare you are suggested to consult a CA.
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