Implications of freelancing as an independent contractor from India for a U.S. company?
I have an independent contractor agreement and am paid by a U.S. company in dollars after I invoice them. I have the following questions. I am in India, and am working from India for the client.
Do I need to pay tax for my income coming from the U.S. as it is deposited in dollars in my Indian savings account?
Do I need to file form W-8BEN form to the IRS?
I am aware that I need to pay income tax to India as per the slab but not service tax as I am rendering services to the client, it is actually exempted. Is that right?
Will there be an issue with my H1-B visa filling by some other company in U.S.?
What is GST/HST? Can someone please explain?
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Do I need to pay tax for my income coming from US as it is deposited in dollars in my Indian savings account.
Yes you are liable to pay tax in India as per tax bracket. Please note you have to pay tax in advance else you will end up paying penalty.
Do I need to file W8BEN form to IRS
Technically not required. However your company may feel at ease if they have it on file. So just give the W8-BEN to your company, else they may withhold taxes.
I am aware that I need to pay income tax to india as per the slab but not service tax as I a ....
Yes No Service Tax
Will there be an issue with my H1-B visa filling by some other company in US?
This has no bearing on your H1-B visa.
What is GST/HST can someone please explain?
Need more inputs.
Edit:
If you are working as Free Lancer, you have to state as such. You shouldn't give incorrect information in visa application.
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