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Income Tax for Freelancers – 7. DUE DATES for Individuals & Example Calculation

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7.1 Due Dates for Individuals.

For Individuals (Freelancers) Due Date
First Instalment – Advance Tax t [30%] 15 September
Second Instalment – Advance Tax t [60%] 15 December
Third Instalment – Advance Tax t [100%] 15 March
Income Tax Return [Not-Audited] 31 July *
Income Tax Return [Audited] 30 September
t Delay in payment of Advance Tax attracts interest under 234B and 234C of the I T Act.
* Income Tax Return in case of a Tax-Payer, whose accounts are not required to be audited under any law, can be filed till the end of the assessment year that is 31 March. However,  there may be liability to pay Interest u/s 234A for delay in Filing Return.

7.2 EXAMPLE

TOTAL  Income =

₹ 5,00,000
(Salary / income from freelance services, Fees, Honororia, Interest from Fixed Deposits, Post office savings scheme etc)
Income upto Rs.20,00,00 not taxable

– ₹ 2,00,000
 
 

₹ 3,00,000
Contribution made towards PPF, LIC Premium etc (All put together upto a total of 1 Lakh Rupees, 1,00,00/-

-₹ 1,00,000
Taxable Income
 

₹ 2,00,000
Tax payable at 10 %

 =

₹ 20,000
Education cess (3% of tax payable)

 =

+ ₹ 600
TOTAL TAX PAYABLE  including cess
 

₹ 20,600

Thanks to CodeCogs for this wonderful Equation Editor for webpages.

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Income Tax for Freelancers – 8. BOOK OF ACCOUNTS & AUDITING

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8. Book of Accounts & Auditing

when your freelancing business flourishes

Everyone wants to thrive in his/her business, and freelancers are no exception. We continue to be in operation with the vision of “making it big”.  So, it is only fair to equip ourselves with the knowledge of “What to do”…. “When we actually get there”.
I believe that unlike some, most of you (like me) have very limited knowledge of financial jargons. Yet, this is no excuse for not-educating oneself. Let us get started.. now that it involves “money-matters”…

A.      Book of Accounts

Definition: “Books or books of account includes ledgers, day-books, cash books, account-books and other books, whether kept in the written form or as print-outs of data stored in floppy, disc, tape or any other form of electro-magnetic data storage device”. This is an inclusive definition.” – Source : Taxguru

In other words, you need to maintain records of income, expenses, receipts, bills for all transactions exceeding ₹ 50/- Be informed (forewarned) that you are required to preserve these books for at least 6yrs.
Gross Receipts (Definition):

Gross receipts are the total amounts the organization received from all sources during its annual accounting period, without subtracting any costs or expenses.

B.      Auditing (& of course, Auditor)

The book “An Introduction to Indian Government Accounts And Audit” [page 14, para 1.9] issued by the Comptroller and Auditor General of India, defines audit as

  “An Instrument Of Financial Control. It acts as a safeguard on behalf of the proprietor (whether an individual or group of persons) against extravagance, carelessness or fraud on the part of the proprietor’s agents or servants in the realization and utilization of the money or other assets and it ensures on the proprietor’s behalf that the accounts maintained truly represent facts and that the expenditure has been incurred with due regularity and propriety. The agency  employed for this purpose is called an auditor.”

 In simpler terms, auditing means, to check the accuracy of the financial statements (income , expenses, profit&loss) and detect any errors or fraudulent transactions, which should be duly recorded and reported.

Nirmal_CA

Nirmal Says,

Requirement of Maintenance of Accounts

 “ If your Gross Receipts from Freelancing / any Other Business / Professional exceed ₹10 lakhs or income exceeds ₹1,20,000/-  in the Financial Year then you are liable to maintain books of accounts”

Requirement of Audit

“If your Gross Receipts from profession exceed ₹25 lakhs or from Business exceeds ₹1 crore in a financial year, you are liable to get your accounts audited by a Chartered Accountant.”

Ref : Simpletaxindia

“Income from freelancing is then a part of Gross Total Income, just like your Income from Salary, or Income from House Property or Other Sources (Interest incomes, etc). All deduction which are available u/s 80C such as PPF, LIP , etc to name a few, are available from Gross Total Income.
When the income includes ‘Income From Business / Profession’, then applicable Income Tax Return Form is either ITR 4S [Income from Business is assessed a Presumptive Rates] (OR) ITR  4 [For all Business(es) including Audited]”,

See http://canirmalg.wordpress.com/disclaimer/  disclaiming liability on behalf of the author / persons giving inputs and making reviews, etc.

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Income Tax for Freelancers – IT RETURN & Recommended Reads

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9. FILE INCOME TAX RETURN

tiredSmileyPhew !.. that will be for another post… later.
I am exhausted already…
So until then, ciao !!!
 
 
 

Recommended Read

✔ Go to First post, and Read again !!!
✔ http://wirc-icai.org
✔ http://www.simpletaxindia.net
✔ http://taxmantra.com
✔ http://www.accounting-n-taxation.com
✔ http://www.taxfaq.in/
✔ http://charteredclub.com

Disclaimer, Now that you have read it all
DeepaGovind
I am not an expert at accounts/taxation issues. The information shared with you here is compiled after extensive research and multiple reviews from certified CAs.
The purpose of this article is to enable you to make an “informed-start” on Income Tax computations, and does not claim to be a complete guide in itself.
All the information in this e-book has been obtained via google search.i.e to say, this is publicly available data. I have made an attempt collect and compile only those details which I personally feel that is relevant to fellow freelancer. More so like, one-freelancer-to-another.
I believe you too would agree that there is no “one size fits all” when it comes to taxation issues. There are multiple factors involved. So, it is THE BEST to connect with a CA and discuss things on a case-by-case basis.
Yes, they are highly priced. But, that is the price we ought to pay for their expertise. Let us respect that. One way to go about this would be to group yourself with fellow freelancers and negotiate on the price for bulk processing. But then, it is ultimately the CA’s decision to take your group, AND / OR, your decision to approach a CA on your own

 ~Deepa Govind

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Income Tax for Freelancers – Table of Contents

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  1. Income Tax for Freelancers, Make an Informed start
  2. Disclaimer and Acknowledgements
  3. Foreword and Introduction
  4. Tax Payee or not ? Where do you fit in ?
  5. Calculate Total Income
  6. Business Related Expenditure
  7. List of Deductions and Exceptions
  8. Calculate Taxable Income & Compute Income Tax
  9. How to pay Income Tax online (Advance Tax)
  10. Due Dates ( for Individuals) & An Example Calculation
  11. Book of Accounts and Auditing
  12. File Income Tax Return (Not included in this series), Recommended Reading & Discalimer (Again, but a different one !)
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Homepreneur Success Tip: Invest Time, Manage Money

eZineBadge“Time and tide waits for no man”, so the saying goes. However, if you wait long enough, the tide will come to you.
People working from home (Homepreneurs) are popularly referred to as Virtual Assistants (VA). There is a wide variety of tasks assigned to VAs. Most popular ones being administrative assistance, customer support executive, transcriptionist, translator, online tutor, ghost writer and many many more.
The biggest lure for wannabe virtual assistants/freelancers is the possibility of being able to work form home, and, generating an income out of it. As a practicing virtual assistant (freelance developer/homepreneur) for the past 4 yrs, I frequently encounter prospective VAs with request to guide them in establishing a VA career
I am more than happy to share resources and respond to queries. Religiously, I respond back with links on articles, forum etc. 2 out of 10 people practice due diligence and come back to me after a couple of weeks to “discuss” about the things they have learnt. I am really happy for them knowing they have grasped the crux of being a VA.
However, 8 out of 10 on the other hand, spare no time in responding with, “Please teach me how to be a VA. I am a quick learner”. They view my repeated responses to access resource content, as, “washing my hands off” fearing competition.
There is no such thing as free lunch. Everything comes with a price tag. Becoming a VA is no different either. Monetary investment to launch your VA career is optional, not mandatory. However, this calls for another type of investment which no VA can deny. AN INVESTMWNT CALLED “-TIME-”
“Take care of the minutes, the hours will take care by themselves” is true to every word in a (aspiring) VA’s working hours. Things could swing both ways here. Spare a few minutes to learn something new, you could be hired(for $) to implement what you have learnt. Similarly, spend a few min on aimless chit-chat /fb’ing, it could be an hour lost to regain focus towards what you were initially working on.
Most VA aspirants tend to loose the initial drive much sooner than 8 weeks of their first attempt. 10 weeks later, they just give up on the idea. 12 weeks later, they conclude that “work from home is all scam”, & those who say otherwise are lying.
It has been my observation that such people approach VA opportunities in the conventional way (read as in the corporate way). If only they had taken the time to read (&comprehend) through the resource content (shared by a friend/goggling), the following could have been put to good use.

  • The knack of weeding out scam job postings and the real ones.
  • The art of presenting one’s VA profile (yes, it is no longer
    called resume or CV in the VA work environment)
  • The tact of using faceless communication (there is no body language to impress your interviewer/client; first level of screening the applicants is by assessing their email-etiquette; once this level is cleared, one is called for a voice chat/teleconference/video chat based on the nature of work.
  • The tools of trade for VAs (& specific ones depending on the nature of the job. Eg, graphic artist: Photoshop & flash, transcriptionist: express scribe etc)
  • The warning signals for non-paying /custom sample clients, and how you can protect your work without jeopardizing a prospective (genuine) gig.
  • The all important -how to handle payments, invoices, fund transfer to u r local currency, tax information et al.

Every VA aspirant should invest a huge chunk of their time to know the terrain, and how this part of the industry functions. By doing so, I do not guarantee that nothing will go wrong. Everyone will make a faux pas, and we are no exception. Even experienced VAs burn their fingers. At least, you will be prepared when such a situation arises (God forbid!!!).
So you see ······ time is a lot like money.
You need to invest a wee bit (may be you might have to stretch here and there)
···· so that, when you have projects at hand, you will have the privilege of managing it.
INVEST IN TIME BEFORE APPLYING FOR PROJECTS.
MANAGE MONEY (TIME=MONEY) WHEN THE PROJECT IS AWARDED TO YOU.

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Homepreneur Fashion consultant : Meet Supriya Ghurye – creative fashion consultant

Supriya Ghurye is a post graduate in textile processing technology from Mumbai. She had her stint as a fashion merchandiser with popular brands in Mumbai and Bangalore. After giving 5 yrs of her time to the corporate world of fashion, she decided to call it quits, and choose to be a homeprenuer. Since 2008, she has been successfully running her fashion consultancy business from her studio at home. She loves origami amongst loads of other things, and aspires to create wearable fashion inspired by origami
Hi Supriya, great to have a fashion guru amongst us. Before we talk about fashion and its trends, give us a peek into the mind from which these ideas take shape. Tell us about yourself.

I’m Supriya, from Bangalore.

I grew up in Mumbai, but have been staying in Bangalore for over 5 years now. I graduated from Mumbai university with a major in Chemistry & then did my PG in textile processing technology which helped me gain in-depth knowledge of the apparel industry. I worked as a Fashion Merchandiser for 6 years before starting my fashion business.

I use my free time for sketching, painting, listening to music, traveling, meeting new people, reading books & fashion magazines. I am also interested in Origami, the Japanese art of paper-folding to create intricate designs. One day I wish to create a unique Origami inspired fashion collection of wearable art.

We have heard that creative minds are the most passionate of all. Is it the same with you as well? How passionate are you about fashion?

Fashion is my passion. Colors play a significant role in my life. They reflect my state of mind. Fashion should be fun, creative & above all it should be comfortable.

I’m a Creative Fashionpreneur – Providing research, design, development & consulting services in Fashion.

With a passion for dressing up & helping others select the “right” outfits, I grew up deciding to change my interest into a full time profession. Fashion being close to my heart since childhood, I always wanted to be a creator of new trends, wherein I could express myself best through my designs. That’s when I decided to use my creativity to explore & fulfil my aspirations as a designer. The outcome of this journey is”Fuel4Fashion”.

I am always keen to experience & explore the world around me though the vehicle of art. My experiences influence my work in terms of contemporary styling. I’ve enjoyed whole hearted support & encouragement of my husband in pursuing my creative entrepreneurial venture.”

You are passionate about fashion amongst those who think it is fashionable to be passionate. Good to know. So, when did you decide to leave your plum job as a fashion merchandiser to work from home on your passion.. rather.. fashion?

In 2008, I decided to leave my full time job in Fashion merchandising to fulfill my aspiration of running my own fashion design consultancy out of my home studio in Bangalore. Prior to that I worked for 5 years in a well known buying agency in Mumbai followed by a leading apparel manufacturer in Bangalore for a year. Having spent 6 years of my career in merchandising, I decided to shift my focus from a technical side of the fashion & apparel industry to a more challenging & creative side of fashion & apparel designing. So over all I had a very smooth & well planned transition from being an employee to a Creative Fashionpreneur at Fuel4Fashion.

So, you are the founder of Fuel4Fashion. Tell us more about what kind of fashion projects are looked into here.

I’m a highly creative Fashion design consultant with an impeccable sense of taste and trends. I specialize in Women’s wear, Mens wear as well as Kids wear in multiple product designing across various categories within the apparel industry. I mainly work with international clients especially the start up labels & mid size companies, helping them build their collection from concept to completion. I help my clients to generate the fashion ideas based on their concepts and convert them into the clothes that people desire across all three major segments – menswear, ladieswear and kidswear. For individual clients looking to make a style statement, I provide style consulting for events and wardrobe management services.

As fashion consultant, I understand that you get to handle projects that range from sketch ideas on paper, to, deliver a cut-and-stiched-apparel as end product shipped to the customer. Sketches, yes, I understand are conceptualized and shared from your studio at home. However, it makes me wonder how you manage the production.. ie… complete range of stitched apparel shipped to the client. Do you work on this from your studio at home as well? Do you employ additional hands?

I provide customized solutions based on my client’s requirement. Some ask for fashion sketches , some for sketches+samples & some ask from concept to completion ie from idea to sketches to samples & then with production.

I collaborate with sampling units & manufacturers across mumbai , bangalore & tirupur accordingly. I provide design services from my home studio. I provide them with all the details ,visit them once in awhile to monitor the development. They dispatch final delivery to my client’s location

It gives me freedom to work at my own convenience yet get the feel of being working with lots of people

Indeed. Freelancers are best known for their skills in recognising latent talent and encouraging collaboration. I see that you have taken this to a different level with 3rd party unit collaboration. Since how long have you been working from home?

I have been running my fashion consultancy from my home studio for past 3 years now & I’m very glad that I made a wise decision then, to leave my full time job to experience entrepreneurship which was lingering in my mind for quite sometime when I was employed .

You said that you have no prior experience in running a business, and venturing out on your own was a bold step in this direction. So, what strategy did you adopt to spread the word about your services?

Being a self taught fashionpreneur with no prior experience in actual fashion designing, I almost took a year to settle down in business, network, gather work contacts & generate client leads. Being born & raised in Mumbai and then starting up a new business in an altogether unknown city like Bangalore was the most challenging task for me.

Being in a creative field, initially I started with circulating copy of my physical fashion portfolio to the potential & prospective clients who were placed locally. For my global clients, I created an online portfolio & started sending them in emails with my profile.

Social media was booming in 2008, so I feel I’m fortunate to have adopted it right from its growing stage. I started keeping a tab on all the latest happenings & hot start ups in the virtual world especially in the fashion industry & started evaluating on how best I can utilize each one of them for my fashion business. Professional networking sites, fashion networking forums, social media sites, entrepreneurial networks, online consulting sites etc provided me a strong online platform for showcasing my visibility for Fuel4Fashion on the web world.

We start as toddlers and eventually learn to walk. Its the same with business as well, isnt it? So, how has the journey been since you established Fuel4Fashion from your studio at home?

My journey since the time I got my first client for Fuel4Fashion has been very challenging & yet interesting. I had my share of ups & downs , good & bad, But, the most important thing is I sailed through all them. In 2010, I started with designing for one client in women’s wear but over the time, I carefully & gradually progressed to handling several clients in multiple categories in women’s wear, mens wear as well as kids wear.

Few learning that I would like to share :

I figured out focus, patience, discipline & self motivation is the key to successfully manage business for any homepreneur. Time management is crucial right from the day one, once you master that art, not only you have a dedicated time for your work, but you also have a free time for your family & yourself. Never underestimate your potential talent, you will find lot of people around to De-motivate & discourage you. Have patience, trust yourself & keep going. People don’t understand concept of homepreneurs,so dont go out of the way to prove yourself to anyone. Sooner or later your work will speak for you. That is your greatest achievement. Enjoy that phase.

Well said, Supriya. Homprenuers should focus on what they do best (the actual work which will fetch the $$) .Actions speak louder than words, and sooner or later (the very same demotivating ) people will come out of their own free will to know your success mantra, and will want a piece of your pie.
Can you share some of the resources that have found to be useful as a fashion designer

  • Women Online: www.wearewomenonline.com
  • The Location Independent Lifestyle: www.LocationIndependent.com
  • Where women create : http://www.wherewomencreate.com
  • Mogul Moms : http://www.themogulmom.com/
  • Entrepreneur magazine: http://www.entrepreneur.com
  • Independent Fashion Bloggers: http://independentfashionbloggers.org/
  • HEN Networks : http://www.henindia.com

In any creative field, idea is money.This is like a double edged sword. Unless you share your idea, clients will never know how creative you are. But, at the same time, once you share ‘your’ idea, its out there in the open and you have absolutely no control over it. TRANSLATION : How do you protect your creative ideas and restrict others from using it without making payment to you?.. how to avoid getting scammed by unscrupulous minds?

In any creative field, most of the prospective clients ask to provide your previous sample work. Once you share your idea, its out & then you have no control over it. So be careful about what you are sharing, how you are sharing & with whom you are sharing. Never accept to do free work for any client- big or small, irrespective of the scope of the project. 9 out of 10 people are looking to get free work done under the name of sample work.

Keep a reliable work contract handy & use it whenever you acquire any new projects to avoid any misuse of your services from your clients. Work out in advance your business operating cost, liabilities & any other overheads so that it becomes easy for you to set up your project charges. By doing this you know your scope of negotiation. Never work for peanuts if your deserve a slice of cheese.

Very true, It seems scamsters are the most democratic ones. They have no caste creed or color..and is the same across all categories.. All that they focus on is to con gullible minds off their time and efforts for free. So, now that you have come this far..Where do you see yourself in the next 5 yrs

Building up base for the business is the most important aspect at the present time. In next 5 yrs business would have acquired sustainable momentum & would have branched out in number of areas. The retail space is continuously expanding with new options & hopefully Fuel4Fashion will have a strong role to play in a significant number of areas. Upcoming designer can now target global audiences & micro niches are now viable markets. With the increasing number of avenues for designers there will be a scope for companies like Fuel4Fashion to provide solutions that cater to this segment.

That is just wonderful. Great to know that you have mapped out the next 5 yrs for Fuel4Fashion in the same systematic manner as in which you made your transition from a regular employee to a homeprenuer. Such planned approach will add value in terms of effort and results will follow. It was great having you at homeprenuer-online, and thanks for sharing your journey thus far. Once again, thanks for agreeing to mentor willing minds in the field of fashion.

Readers can connect with Supriya Ghurye via Twitter and LinkedIN

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Homepreneur @ 70+ : Meet Sri.Ramana Prasad – Translator, Editor, Writer

Howzzat for those of us (so called youngsters) who feel burnt out by the time we touch 40’s …
Sri.Ramana Prasad has had a fulfilling career as lecturer of History and Politics @ The Thiagarajar College, Madurai; Senior Teacher in History in reputed Hr.Sec.Schools in Madurai and Kodaikanal and retired as Principal, CSR Mat.School, Tirunagar, Madurai in 1998. During this time, he had translated text books for PUC History, B.A., Politics and History from English to Tamil. Post retirement, he was working as editor for Medical Transcription Agency and subsequently took up Editing, Writing and translating works.
Most often, soon after retirement people want to relax (read, disconnect from any kind of work). How is it that you are still at work 😉 ?

It is true that many people want to relax after retirement. But unless one has good hobbies or take up to some useful activities like social service, it becomes very boring for them to occupy their time with. For those who are obliged to do hard physical work, retirement is, of course, a relief. But for those engaged in mental activities throughout the life, it would be monotony unless they find some useful occupation during their retirement. As an academician, therefore, it is not a burden at all to carry on intellectual activities. Also the novelty of doing work through computer fascinated me.

Now, here is someone who has mastered ‘technology’ (read learning to work with computers) post retirement just for the fun of it. That’s “Learning for learning sake”. How many of us can aspire to be so much self-motivated past 60.. is a point to ponder. ~ D
How did the transition take place from teaching to translation?

It was not such a transition. Even during my regular career, I had translated a number of works and it is just a full time continuation of the same activity. Also, I am not exclusively doing translation work. Writing, editing, etc. are also there so it was not a difficult transition.

hmm.. a salable skill put to use at the right time. We too do lot of ‘other’ work (in addition to office-work), but rarely do we realise that it can be used / marketed as a saleable skill. Time to take a closer look at the things we do. We would surprise ourselves. ~ D
In India, freelancing is not a career choice, let alone post-retirement. How is it that you actually started on freelancing from home. Can you please share an anecdote.

You know that we are having these online facilities only for the last 10 to 12 years. It just coincided with my retirement. Though I could have taken up full or part-time teaching work, this attracted me because I had done enough vocal work for years! And sitting in home, doing work according to our own convenience had an added charm!

It so happened that a friend of mine asked me whether I would be interested in regular translation into Tamil for a website. It suited me well and in a couple of months I mastered Tamil Typing as well. Thereafter it was more a pleasure than an ardours work because for years I had translated the works by writing only! From that time I began to pick up other works and was able to keep myself as much occupied as I wanted to.

An unconventional choice by chance. I sincerely wish my readers will also get this privilege sooner than they expect. ~D
Please share information on the skills required & level of expertise to pursue a career in translation.

In my case, as I had taught at the degree level both in English and Tamil, I had acquired enough skill in quick translation. However, for those who are new to the field, it would take some time to get acquainted with the art and science of translation.

One has to read good books in English and Tamil (or the languages into which translations are to be done) so that a diction is unconsciously developed by oneself. So, hard work has to come. Of course, for technical words in many fields like medicine, engineering etc. at present we have a number of websites suggesting words. It is a question of persisting with gaining knowledge..

‘smack !!’ That was my english teacher for not coming prepared for the weekly reading exercise . If only I knew…. ~D
How much does a translation expert stand to earn, over time?

If one wants to take this up as a full-time career, one can earn as much Rs.40,000 to Rs.50,000. But to achieve this one has to have the capacity to translate between 2500 and 3500 words per day. It all depends upon the area of specialisation, aptitude and willingness to work. One thing is certain. One can earn a reasonable income sitting in the cosy atmosphere of the home!

Let us not get carried away by the numbers… but yes… remember them. Reach for the sky, you will certainly grab a few stars. ~D
Can you share some resources for translation & translation based jobs for aspiring homeprenuers?

Personally I would suggest that the translator takes up on his own some standard authors’ work and refine his talent. Initially if would be tiresome, like people acquiring systematic reading habit. But one has to have a willingness to learn, work and do things perfectly. There are no magic formulas. Homeprenuers should not fight shy of constant reading and writing.

Read.. Assimilate.. Associate.. Articulate… Read Again !!! ~D
Would you recommend some trusted translation agencies / contacts that our readers can get in touch ?

There are many agencies. Cosmic Globe in Chennai comes to my mind as the first choice as it treats the translators with great respect. There are others and one can easily register with the number of agencies and get regular work.

Few other friends have suggested Translatorscafe. It is always better to exercise due diligence and caution. (I don’t mean to scare you.. just be on guard) ~D
An experienced freelancer demands funds (or at least a % of it ) upfront before commencing work. First time freelancers do not have this choice and are constantly bugged by non payment issues. How did you tackle this when you took up freelancing?

Everything has to be worked out. A beginner always is at a disadvantage over choice of work and non-payment issues. Even those who had sufficient experience were cheated from Canada to New Zealand to the tune of several millions by Bangalore Adit. It happens.

I must say it was a mixed bag as well. Many had not paid the amount. But fortunately all firms are not like that. If our output has quality and we keep up time schedule, many problems will disappear.

Punctuality and discipline will take us a long way. (.. 😕 wonder why we never paid attention to those “Moral Science” class ) ~D
Do you get to discuss freelancing as a viable income opportunity with your contemporaries & students. Does generation gap play a role in the thought process?

I didn’t have much time with my students as I had migrated from Madurai to Chennai. But most of the young translators with whom it has been my privilege to get in touch, are quite optimistic about future in this field. I know a couple of them who are engineering degree holders but have preferred to take this up as a good career at a young age.

True, present generation is not tied down by conventional notion of “job and salary” ~D
As a history teacher, do you foresee history-in-the-making @ job sector where young IIM graduates are refusing plum jobs to pursue entreprenuerial dreams. On the same note, brilliant-stay-at-home-minds ( child care / foreign soil ) are seriously considering freelancing from home as an option to tackle family and financial needs?

It is not only translation work that matters. Freelance writing and editing bring in good revenue as well. Stay-at-home minds, voluntarily or involuntarily, could certainly benefit from this source of income as money would flow in with hard work and ability.

I am not qualified to suggest to IIM graduates for their ambitions may differ. Let me remind you that I chose a college teaching career as it afforded plenty of leisure so that I could read quite a lot. Many in my background would have chosen pursuit of money to be a better option.

To each as one likes!

Indeed, To each as one likes! ~D
Kindly share your Twitter / facebook / linkedin profile for the benifit of our readers.

Actually Facebook helps me to keep in touch with my social contacts. I have had no time for twitter. Linked in has its potential vastly to improve your standing in the online base.

….. K. Ramana Prasad

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Shameless tactic by vWorker.com – poaching oDesk clients and providers

UPDATE on 28 Feb 2012

vWorker makes changes to its bid-alert mail

As any freelancer would agree, it is considered a smart move to sign up with multiple freelancing sites. The idea is to diversify and enable one’s (freelance) resume to be made visible to as many eyes as it can be. On the same note, clients (employers) also post the same project across multiple freelance sites to increase the chance of intelligent bids from serious freelancers…(oh yeah !.. and then, there is spam… but pros outweigh the cons)
Guess it comes as no surprise when I say that I had also signed up with odesk and vWorker (and few other freelance marketplaces as well), so that I have a steady stream of potentials. Predictably, I am subscribed to their bid alerts as well.
However, today I was taken aback completely when I read through their so-called referral campaign to their bid-alert mail.
vWorker_oDesk

Why should i even bother asking a client from Site1 to sign up at Site 2

I have active profiles in both oDesk and vWorker. Serious freelancers are busy bidding and actually working, rather than, cajole a client to sign up with a marketplace of (freelancer’s)choice. In other words, If i see a potential project on a different marketplace, I would promptly sign up at this new site and place my bid. All I care about is winning the project, and start working on it.. because.. thats what actually puts the copper in my wallet. Why should I go about telling the client to sign up with my-favourite site if he wants to work with me. It is likely that I might end up loosing a good project just for this one act.

Whatever happened to “healthy competition” ?

It is a thin line between competition and jealousy. Freelance marketplaces such as vWorker and oDesk (and other freelance sites) actively promote “healthy completion” between their users, so that the provider – the client – and – the site are mutually benefitted… which is in fact THE right thing to do. So, why take the Unhealthy route to boost one’s business?

Afraid of competition? Or, Last desperate attempt by vWorker?

Each freelancer has his / her favourite freelance site. There are scores of freelance marketplaces over the World Wide Web, and, each one of them are striving in their own way to get the provider’s and client’s attention. If oDesk works better for some, then vWorker works better for someone else. But it so appears that the user-base-at-oDesk is exponentially greater than the user-base-at-vWorker. But, this act by VWorker to poach oDesk users only comes across as a desperate attempt to boost their already declining user base.

… vWorker, are you really that desperate ?
… may be its time for vWorker to rethink their user-experience .

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Its official now : Paypal enables automated withdrawals for Indian Users

For those who have been following the Paypal – RBI issue, would have taken note of conversation with Paypal support – VERBATIM sometime in April 2011

……. If you will not transfer the funds on the given time frame, our system will automatically transfer the funds to your bank account.
If your balance is less than $10.00 USD (minimum withdrawal amount), our system will not be able to automatically transfer the funds to your bank account. Therefore, you will need to wait until your balance is enough or more than the minimum withdrawal amount before you can transfer them to your bank account.

However, this news is now official, via the Paypal FAQ Page (login to read )
What is more intriguing is, this page has been very recently updated, 7 Aug 2011 as seen in my FFox Page info dialog. (Click to enlarge and view )
Wonder when they will make a similar public announcement for ” waiver of 50/- service fee for withdrwals less than 7000 /-”

In order to comply with RBI, we will be waiving all fees on withdrawals.Even if you will be transferring funds lower than 50.00 INR, rest assured that you will not incur any withdrawal fees.

Thanks to Techiebuzz & Mayur Agarwal

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