Tax savings proprietorship or pvt ltd company

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

29 September 2016 Hello,

I'm freelancer software developer providing services for offshore clients. My turnover is around 35Lakhs. I'm looking for a way to save tax. Should I start Pvt ltd company or proprietorship or LLP or some other entity? Which type of entity will give me most amount of tax savings for a turn over of 35Lakhs?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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29 September 2016 Proprietorship is the best one taxed on slab rates, besides you can claim benefit u/s 44ADA by declaring 50% of your 35 lacs for taxation. No books of accounts need to be maintained and 44ADA benefit claimed, when your turnover not to exceed 50 lacs.

Querist : Anonymous

Querist : Anonymous (Querist)

30 September 2016 Thank you! Are you practicing? I can contact you for my accounting.