Regarding Tax Information

[anujsekhar]

Im losing somuch money in the name of tax from fiverr. How can i reduce it?. Is there any way to reduce it by Filing TDS or something?

[surajkartha]

Assuming that you are from India, if tax is being deducted out of your earnings, the same should reflect in what's called as "Form 26AS" that can be accessed via the income tax portal. So when you calculate your overall tax liability, it'd be whatever you have to pay minus what's already been taken from your earnings (as reflected in Form 26AS).. At the same time, you might be eligible for a refund (for the amount that was deducted from your earnings) if you don't have any tax liability (as per the slab and rules).. 

In any case, it's best to take the help of a professional CA.. they can guide you better.. 

[lloydsolutions]

On 9/1/2021 at 10:32 AM, anujsekhar said:

Is there any way to reduce it by Filing TDS or something?

 

On 11/4/2021 at 1:41 PM, shahadat32 said:

Hmm good information

Here we go again!

@shahadat32Please stop serial spamming the forum with irrelevant nonsense replies.

[yardenwar]

As far as I know, your income tax should be formed strictly based on your receipts for the payment of your employment, right?

[magearmy]

I have a concern here. Fiverr calculating the tds including thier commission. So lets say you earned 100 then instead of deducting tds from 80, they deduct it from 100. So your overall earning increase in 26AS and you have to pay higher tax.

Any solution to this? or may i wrong somewhere?

[lloydsolutions]

17 minutes ago, magearmy said:

I have a concern here. Fiverr calculating the tds including thier commission.

It is explained here: Fiverr Help and Education Center (India - Sellers Tax)