24 September 2008
A man is working as an environmental researcher in Gujarat. He applies to research funded by some govt. as well as non-govt organisation. He gets paid thru cheque after he submits the report(after he does the research).
He has been filing in ITR-4. Now his tax advisor suggests him to register under Bombay shop......act 1948 for a single propietary consultancy firm.
Will this enable him to enjoy greater benefits? if yes or no; and in what way?
24 September 2008
the law's name is Bombay Shops & Establishment Act, 1948.
Will he have to pay Professional tax? Will he have to pay service tax? Will he have to apply for another pan card for the firm? Plz answer in detail abt how he may get more tax benefits?
CAclubindia
