Income Tax Slab for FY 2014-15 (updated)

This is a follow-up post to our post on Income Tax Implications for Freelancers  since there has been revisions in the tax slab for Income tax by the Finance Minister recently. This is the most updated Tax slab for FY 2014-15 (AY 2014-15) . If you are a freelancer having a taxable income greater than 2,50,000 in the current financial year (14-15), you ought to ensure that you pay your taxes on time to avoid any hassles.

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TDS & Refunds for Freelancers in India

In one of previous post on WorknHire.com we discussed about the Income Tax Implications for the freelancers in India. While we had covered most of the points regarding income tax, one of the questions that most of the visitors of the website kept asking was about TDS and Service Tax. So here we discuss TDS deductions and its implications on a freelancer working in India.

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Some Interesting Facts from 2012 Freelance Industry Report

The Freelance Industry is growing. The very fact that we call it an “industry” now is indicative of the fact. The Freelance Industry Report by Ed Gandia, founder of International Freelancers Academy, threw up some surprising and encouraging facts when we surveyed it. This survey contains all aspects of Freelancing so we decided to list down the most eye-catching facts of this report. Here goes:

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Does your Non-Native English Speaking Status Harm Earning Potential?

Yes. It does.

Perhaps, not always but sometimes there is an unavoidable sinking feeling, a kind of sixth sense intimidating you, “hmmm….I lost the work because I’m a non-native English writer”, right?

It happens and will happen in the life of every non-native English writer, sooner or later.

I won’t get into a lengthy debate on the merits and demerits of native vs. non-native writing or how non-native writers are treated but will tell you ways of bypassing the stigma and start earning handsomely.

I know what I’m saying; I am non-native English speaking content developer, content manager and consultant myself. I have been there and done that!

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Tips to avoid getting screwed when starting as a freelancer

If you’re just starting your career in the world of freelancing, welcome aboard. It’s a great time to be a new freelancer, with loads of opportunity out there as companies of all sizes from small to large are continually looking to outsource many types of services.

Starting a new career can be fun and exciting but you should take care of a few things in order to ensure that you are not getting screwed as a freelancer.  This article will explain a few points on how you can avoid being exploited and start earning real money.

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Essential Tips for Writing Effective Freelance Proposals

To survive and excel as a freelancer, you need to be able to market and sell yourself. First impressions really matter and specially in freelance business it’s important that you make a good first impression with your proposal. That’s why writing an effective proposal to a prospective client is one of the key skills you can develop to be more successful.

Many freelancers make various common mistakes in their proposals, from talking too much about yourself and what you want, from not knowing what the client wants, to rambling on. You should avoid these common mistakes to make your proposal effective. Here is a list of tips to make your next proposal more effective.

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Income Tax implications for a Freelancer in India

With more and more growth of internet in India, the number of freelancers or independent contractors is on a steep rise. People prefer to work for themselves on their own terms than an employer and are capable of earning far more than what they would in their day to day job. So the question comes “Do I need to pay taxes for my earnings as a freelancer”? The answer is YES and you need to pay taxes and file your income tax returns even if you are an individual consultant or a freelancer.

Within Indian Law any individual running a business where he/she is the sole owner is termed as a Sole Proprietor, the same applies with a Freelancer. A person earning on his own is considered a Sole Proprietor and needs to file income tax returns using the ITR-4 return form . If you have any other income source (maybe your full time job) you need to include that as well while filing your income tax return.

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6 Common Freelance Mistakes & How to Avoid Them

Seeing as we are all human(at least everyone reading this post), we should recognize that mistakes happen. It is often said “To err is human” which shows that it is not only common for us to make mistakes, it is rather expected. Making mistakes is one of the major ways we learn and that is how we as humans are built. This is no different for freelancers (as they are humans after all).

There are a few mistakes which are really common among all freelancers, and they should be avoided. Mistakes can cost you clients, and possibly even cause your business to fail.The good news is you don’t have to make those same mistakes, and hopefully you can benefit from this list and some insight from your fellow freelancers.

So here is a list of 6 most common freelance mistakes and how to avoid them.

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6 benefits of Hiring Freelancers at Work N Hire

If you are new to Work N Hire and the freelance marketplace concept, you must be wondering at the moment what’s this all about? Well let me lay it down in brief for you. Work N Hire is a freelance marketplace where you can hire an expert/professional for your work online. So does that mean its yet another job portal? No its not another job portal (well every job portal says that :D ) . Job Portals only assist in finding you a right match and after that its your duty to manage the project, make payments etc. For a full time work this system works, because both the parties are physically present, but in an online hiring model since you are not aware of the other person you need help starting from finding the right candidate to managing the work with a contract and finally making payments safely and you find all of this on Work N Hire and hence I say its not another Job Portal. Here is a list of 6 benefits of why we think you should start considering hiring freelancers at Work N Hire.

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YourStory.in – Wondering Where to Freelance? Try WorkNHire

YourStory“The Freelance Industry gets One More Boost with WorknHire.com”. YourStory.in, India’s Platform for entrepreneurs and Start-ups, covered Work N Hire and published a news article on 26th June 2012. We are glad to be a part of an article on YourStory.in and we thank the team for publishing a great article about Work N Hire.

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Work N Hire Review by “SocialVani”

A few days back we were contacted by Chitraparna Sinha from SocialVani for a review of Work N Hire. SocialVani interviewed our co-founders through email and published an unbiased review of Work N Hire. We are glad to have a chance to be reviewed by SocialVani.

Here is an excerpt of what Chitraparna Sinha from SocialVani had to say in her review of Work N Hire. You can read the entire review at http://www.socialvani.com/2012/06/work-n-hire-review/

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Work N Hire – How it all Started!

“A journey of a thousand miles must begin with a single step.” -  Lao Tzu

Work N Hire started with an idea to bridge the gap between Freelancers and Clients in India by creating an online marketplace. While working as the Co-Founder of Excellence Technologies an IT services start-up, we always used to get calls from friends, acquaintances and colleagues from our previous organization asking if we knew a freelancer who could take up their work. In some cases we might be able to help them, in other cases we didn’t have contacts of freelancers having that specific skill set. Having seen this demand and supply gap, we decided to do something about it and came up with Work N Hire, India’s First Online Freelance Marketplace.

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How to start your career as Freelancer?

Working as a contractor–or freelancing as it is often termed–is both a great stepping stone to running your own business and a viable career in itself. For the first-timers, there can be numerous hurdles to overcome on the way to starting and having a successful freelancing career, especially if you are in India.

As a former freelancer myself I have observed some of these hurdles firsthand. This article discusses some of the points related to the ins and outs of freelancing and how to start a successful freelancing career.

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What is Freelancing ?

Freelancing can be explained in simple terms as a self employment job or the practice of working for your self. Freelancer  is someone that works as an independent contractor to provide a specific service to a client.

Freelancing is nowadays common in numerous fields of work including IT & Programming, Web Design, Graphic Design, Journalism, Sales & Marketing, Customer Service and Finance & Accounting.

Freelance practice varies greatly. Some Freelancers find work through direct referral while others choose to use a more subtle way of finding work online by searching for jobs on various online marketplaces like worknhire.com, elance.com, odesk.com etc .Some require clients to sign written contracts, while others may perform work based on verbal agreements, perhaps enforceable through the very nature of the work.

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