But in addition to these, they can claim tax-saving deductions on their business expenses. If you are a freelancer, here’s how you can go about claiming these benefits:As a freelancer, the equipment you use for your work are your assets. If you pay the bill, you can claim deductions on the expense. You can also claim tax-saving deductions on travel expenses incurred to meet your clients, including deductions on fuel expenses for your own vehicle and the fare for hired cabs, etc. They are also required to deposit the collected service tax with the government.Salaried professionals pay advance tax by default in the form of TDS , but freelancers have to determine their advance tax liability themselves.

Source: Economic Times January 23, 2017 01:00 UTC