Hi,
I have recently started an online software support business in Delhi. We are providing our services to foreign countries. Its been around 6 months since I started this business. I have not filed the tax yet as I have no idea how to do that.
Its a partnership firm and I have several questions in my mind.
1) I want to know the tax rate & some tricks so that I can save the tax ? I have heard that if I show some expenses, that will save tax.
2) Can I Transfer my saving account money to Firm's current account ? ( Will that be considered as an asset to my firm? )
3) If I transfer my current account's money to my saving account , how will that be considered?
4) Will it be a good idea If I use the current account for my personal shopping?
5) Can I purchase a car for myself by using the current account of my firm ?