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How to calculate GROSS INCOME VS NET INCOME

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networkers
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How to calculate GROSS INCOME VS NET INCOME

Post by networkers » Fri Jan 30, 2009 5:38 pm

Dear All,

My problem is I am being paid via overseas employers, I just came to know that while transferring the funds the bank deducts a small amount as service charges. Let say 70$ to 100$ on each amount, so If my total amount was 1000 US$ which I invoiced to the employer he paid the same to the bank but the BANK deducted about 70 US $ from the amount and transferred 930 US $ to me. In this case what would I mention as my gross income and net income.

Please help.

vipul1981
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Post by vipul1981 » Sat Jan 31, 2009 1:40 pm

u have to go by ur salary slip. Gross is what home office considers. so u have to get ur salary slip and if on the salary slip net pay as cited in ur example is mentioned as $1000 and u got paid £930, mention this point in the covering letter

networkers
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Posts: 352
Joined: Fri Jan 30, 2009 4:11 pm
Location: United Kingdom
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United Kingdom

Post by networkers » Sun Feb 01, 2009 1:25 pm

My payment slip shows 1000 US $ only, there is no point as such for deduction of any charges. So if I go with payment letters, it says I have been paid 1000 US $ which means my gross and net payment is equal.

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