I am planning to open a small business in web design. Currently, I am working in Bangalore. I won't quit the job until I get good returns from my business (a backup kind of thing, you know). I have a small project that I am currently working on a part-time basis, apart from my regular job. Based on the feedback from that work, my client wishes to send some more projects to me. I am planning to hire a person full-time and work part-time along with my job. I just need one computer and one internet connection for that, which I will provide in my own room (that I rented). If in the future I get more projects, then I may expand or hire more people.
Do I Need to Register My Business?
Do I have to register this somewhere? As the profit is very low for the time being (i.e., max 10k per month), do I need to get any service tax number?
From India, Delhi
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Do I Need to Register My Business?
Do I have to register this somewhere? As the profit is very low for the time being (i.e., max 10k per month), do I need to get any service tax number?
From India, Delhi
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Looking at your question, I think you are inquiring about obtaining a service tax registration number, which depends on your turnover amount and not on the profit element. Therefore, if your gross receipts exceed Rs. 9 lakhs in a financial year, you need to apply for a service tax registration number, as the current threshold limit for service tax exemption is Rs. 10 lakhs in a financial year.
If you need any assistance, please let us know.
From India, Ahmadabad
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21If you need any assistance, please let us know.
From India, Ahmadabad
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