Legal Requirements for Sole Properietership Start Up

CA Deepak Joshi (TaxTalk) (178 Points)

03 May 2011  

Dear All,

Pardon me for asking the same old question which has been asked so many times at this forum. but actually i'm confused by the answers written by the people.

The asnswers are written from a perspective of a manufacturer/trader sole properietor. I wish to start up a consultancy biz. Due to small size of operation i'm interested in Sole Properietorshi[p form of business.

 

My Questions  are:

1) Since its just a start up, do i need to get ST registration? Also till my receipts are less thn 10 lacs i don't need registration...right?

2) I have no employees under me. Rather i'll be working solely. Do i need to get registration for Professioanl Tax?

3) I'll be operating from my home. I don't think i'll be liable to register it as a place of businss anywhere.??

4) Which ITR shall i file...individual having income from PGBP? or firm having income from PGBP??

 

Thanks in advance