I am a software engineer working in a IT company. Apart from this, I am also working as a freelancer with a U.S. client. Money comes in USD to my Indian bank account. I have two partners with an equal share for each, and I transfer their amount from my bank account once the money comes to my bank.
So my questions are:
How can I show my freelancing income on my income tax return?
How will my income tax be calculated as I also transfer the amounts to other partners from my bank account?
Any help would be much appreciated