Hello Seniors,
I am an HR professional who is on career break due to personal reasons. Now I want to start a business along with my friend who is already working with a company on full time basis. My queries are as follows:
1) As I am not working anywhere I will be face of the company. For any payments my bank account will be used.
2) Nature of business : we will be sourcing kids profile to required clients for modelling purpose (from parents who are willing for their kids modelling).
3) If I start as a freelancer and not as a company then what points needs to be covered.
Kindly advise me points from legal point of view which needs to be covered from both as a company point of view and as a freelancer.
Waiting for your valuable inputs.
Warm Regards
Meenakshi
From India, Delhi
I am an HR professional who is on career break due to personal reasons. Now I want to start a business along with my friend who is already working with a company on full time basis. My queries are as follows:
1) As I am not working anywhere I will be face of the company. For any payments my bank account will be used.
2) Nature of business : we will be sourcing kids profile to required clients for modelling purpose (from parents who are willing for their kids modelling).
3) If I start as a freelancer and not as a company then what points needs to be covered.
Kindly advise me points from legal point of view which needs to be covered from both as a company point of view and as a freelancer.
Waiting for your valuable inputs.
Warm Regards
Meenakshi
From India, Delhi
Everything depends on the kind and quantum of Funds you have. Starting out as a Company will require Capital and funds for expenses required to complete all the formalities.
You can start small as a Freelancer and as your business grows you can incorporate it in a Company.
In any case, at the bare minimum you will have to register for GST as a Service Provider, because whenever any company pays you they will be paying 18% GST on your behalf, which they can not get credited back to them as Input credit.
From India, Delhi
1425You can start small as a Freelancer and as your business grows you can incorporate it in a Company.
In any case, at the bare minimum you will have to register for GST as a Service Provider, because whenever any company pays you they will be paying 18% GST on your behalf, which they can not get credited back to them as Input credit.
From India, Delhi
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