Which tax regime is better for freelancers?

Choosing the right tax regime is crucial for freelancers to optimize their earnings. In general, freelancers can choose between the old tax regime, which offers various deductions and exemptions, and the new tax regime, which has lower tax rates but no deductions. The best option depends on individual expenses and income levels. Freelancers with higher deductible expenses, such as home office costs, may benefit from the old regime. However, those without significant deductions might prefer the simplicity and lower rates of the new regime. For professional guidance, it’s advisable to hire an indirect tax freelancer from Paperub for tailored tax advice.

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