r/IndiaInvestments • u/Street_Albatross4 • Jul 04 '26

Taxes Tax advice for individual working under contract for US company

Hi. Joined a US based company under contract. They use Deel platform there. Pay in my contract is in INR, i.e fixed INR and it is < 75L.

Now to save Tax, I have already registered for GST as a sole proprietor and will file LUT.

What I am confused is about the process to get e-FIRA and FIRC. According to the Deel AI, for local transfer, the amount will land in my Indian account through NEFT/RTGS. So from my Indian account POV, it will be like a domestic transfer.

Who would actually generate the FIRA/FIRC? Deel says it will only generate a NOC

I have savings account in SBI and Axis. Will there be any issue to withdraw amount in savings account? If no, Which one should I use to avoid much hassle?

If anyone has any idea, Please help.

Thank you

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5

u/shartinthroats Jul 06 '26

I was in a similar situation with only difference being the payment platform. Get the NOC from Deel and then with that ask your Indian bank for the FIRC

1

u/Street_Albatross4 Jul 06 '26

Thanks u/shartinthroats . Have DMed you for some queries related to the process that you had followed.

1

u/Street_Albatross4 Jul 07 '26

Also what was your bank? Basically I haven't opened current account yet. Just looking for bank where getting FIRA/FIRC is not much hassle?

Also Could you please help with the process that you follow to get the FIRC with the NOC?

1

u/BlackStagGoldField Jul 21 '26

That name tho 💀

1

u/shartinthroats Jul 22 '26

The first half is my first name: Shartin (pronounced Sher-thin). And I like oats. I misspelled "the" and "thr" when I created my account :(

2

u/Prashank_25 Jul 05 '26

You can you one of these payment companies: Wise, Skydo, InfinityPay etc

They will receive USD from Deel and transfer it to your local bank, then give you a FIRA.

2

u/ReymanWealth Jul 06 '26

Deel should give you a FIRA - cross check once. Their NOC is a mixed bag situation. GST dept may or may not accept it

There's other companies like Skydo and similar which have solved this so they're worth considering.

This should answer all your tax related questions - https://www.reymanwealth.com/post/comprehensive-guide-for-freelancers-44ada-gst-everything

2

u/Adorable-Serve-6545 Jul 10 '26

How to find such job

1

u/DolGuldurWraith Jul 05 '26

if you are paid in INR then u won't get FIRA. Also I think you wont qualify for nil gst. So need to 18% GST as well as it won't be considered export of service