Legal Question in Business Law in India
hi i wanted to register engineering and IT base service at home area, Can i do That ? if so what will be tax on my home area can you please let me know?
thanks
2 Answers from Attorneys
06.03.2017
Dear Sir / Madam,
Yes, you are free to do business from your home area. You should get your establishment registered under the local Shops & Establishments Act and a PAN Number and VAT Number for your business to take care of your tax concerns. I recommend and suggest you seek the assistance of a local Chartered Accountant to handle these issues.
Regards,
First of all you have to decide the nature of your business entity. You can get it registered as :-
i) Sole Proprietorship,
ii) Partnership firm under Partnership Act
iii) Private or Public Limited Company under the Indian Companies Act
etc
According thereto the procedure of registration of business entity under the relevant law and tax liability will be determined in terms of Income Tax Act.
You will also be required to obtain PAN under Income Tax Act and registration under Service Tax, Obtaining TIN, if need be etc
It is, therefore, suggested that you may discuss your plans with an Advocate or Charted Accountant available locally.
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