I am planning to start a partnership business soon so there are some quries regarding taxes and formalities.
Snapshot of business is as follows:
We will be getting approx 5% margin from network service provider say airtel. Then we will be suppose to create sub distributors and share 4% of our margin with him who will further share his 3% of margin with retailers.
Now my quries are:
> What type of taxes will be levied on my business means am i suppose to pay sales tax or any other taxes.
> Is partnership deed is necessary for getting a TAN.
> Is it necessary to get our company's name registered anywhere.
> After paying all the taxes from company will the profit share of partner be taxable.
> What type of investments can we make to save taxes.
Waiting eagerly for your positive response asap.