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Victor (Consultant)     29 August 2012

Legal requirements for my consultanct service

I am planning to start my consulting service in the field of manufacturing. i will be the only person and no employees & no partnerships. I want to know what are all the legal requiremnts to be done. Like what are  all the various type of taxes i need to pay ( service tax, income tax etc.,) and any registrations is mandatory for this type of services??



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 3 Replies

Shakeel A. Siddiqui (Finance & Legal Consultant)     29 August 2012

Please mention whether you will start a propritorship concern/partnership concern/company as the requirements differ accordingly.

Anyhow if assume that you are going do it on your own (a proprietorship concern) you will require a PAN No. from Income Tax Department in your own name and Service Tax Registration No.

 

Victor (Consultant)     29 August 2012

Thank you for your reply sir... yes i m planning to start a propreitorship firm. if the income from this service islessthan 15lacs, then also service tax is registration is mandatory.?

Shakeel A. Siddiqui (Finance & Legal Consultant)     29 August 2012

Service tax registration is not mandatory if you are below the specified limit provided by Service Tax Act. But you must be sure not to cross the threshold limit. Further if you have obtained registration you will have to file NIL retrun with the service tax department if your receipts are less than the specified limit. 


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