I am planning to provide some consultancy to a firm based on hourly rate. What exactly needs to be done so that I get maximum tax benefit.. I would not exceed 10 lakh rupess /year. Do I need to charge them service tax. Also would they be deduction any tax if I have an individual proprietary firm. Also lets say if I do exceed 10 lakh rupess income, should I split the income b/n two firms so that I dont get in service tax issues.
Please provide me some numerical answers let say I charge 75,000 rs / month what happens as an individual proprietary firm
Also what happens if I exceed 10 lakh rs /annum, let say I need to charge 150,00 rs//month