Hello fellow Rodinhoods,
I am in the process of setting up my technology consulting business. Initially it is just me and for the same reason I am thinking of setting it up on the Solo Proprietor model instead of a Pvt Ltd company (prefer easy setup and maintenance for now). I have a few questions which I’d like to ask :
a) Going forward, like in the next 9-12 months (FY16-17), I hope to hire more people. Can I postpone the Pvt Ltd model till then, or should I go for it now ? Any advantages for each approach.
b) I would be rendering my services to US based technology start-ups and would get payed in US$. My research says – a current account is all I would need (Sole proprietor model). Is it true ?
c) Is service tax registration mandatory considering the turnover is expected to be greater than INR 9L. I read somewhere that it is not required in case of services being exported, but the sources are not very reliable. Please let me know about this as well.
d) Is hiring a CA recommended or can things be managed by self.
Thank you.
Regards,
Gagan