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New Online Business - Documentation / Bank / Tax Guidance India

Discussion in 'General Business' started by aces27, Sep 19, 2011.

0
  1. #1
    Hello ,

    I am sure there are many experienced folk into this already.
    Am starting new.
    Please assist and provide your guidance.


    I am planning to start a
    web designing / data entry / web research analytics firm.
    Complete work is online and only for foreign Clients.
    Payment would be direct to the bank account via SWIFT etc
    in small amounts by large number of Clients.

    Bank says that No documentation is required to accept remittance.


    1.Would I be requried to maintain any files like
    Invoice Files
    Considering Clients Requests on confidentality - I may not be allowed to save the work related files on my computer. Proof of Income ? Proof of Work ? Required ?

    2.I dont think Service Tax is applicable , since all of it is for exports.

    3.Would Income Tax be applicable ?
    Should I start a Propreietorship / Accept Payments in Personal name ?

    Any other documentation that is mandatory for me to maintain.
    I am facing difficulties in opening a Propreietorship Current Account
    as I cannot register for VAT / CST / Excise / Muncipal Shop etc.



    Please share your experience and view , that many can benefit from this discussion.

    Thanking you
     
    aces27, Sep 19, 2011 IP