Hello Experts:
This is about my query related to starting an online business. My brother has a foreign citizenship. he is thinking of starting an online business in our mother's name who is based in India. There are few doubts to be clarified before he take next steps:
1. As he is currently employed with a corporate, he believes that he will not be able to start a business as per the employment agreement. So, the only option for him seems is to start the business is in our mother's name or some relatives name. Is it legal?
2. What will be tax implications for the person in whose name he is planning to start the business?
3. As he has a foreign citizenship, he can't accept earnings in his bank account due to higher taxation. Shall he accept the earnings in a different account?
Thanks in advance.
CAclubindia
