consultancy income

Tax queries 504 views 2 replies

247 Points Joined August 2009

hi friends

happy holi

pls let me know

can a person start consultancy profession for insurance , tax etc without taking any registration under any act or law.

and he can file return of consultancy income without having registered with any body of law.

thanks and oblize

reena jain

Replies (2)

Chartered Accountant

4780 Points Joined March 2009

You will have to register under the Service Tax, if your gross receipts go beyond Rs. 9 Lakhs in any previous year.

Regards,

Devendra

Guest

You can start right away, there is now initial requirement. Only when your receipts exceed Rs.9lacs, then register for Service Tax.

You can show this as a proprietorship business income.

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