I provide software services for foreign clients and receive payment in USD to my personal bank account.
Questions
- Do I need to pay Service Tax ?
- Do I need to get audited ? (My income is above 10 lakhs)
- Do I need to get IEC ?
- Are there any FEMA rules I need to be aware of?
- Will I come under section 44AD ? Will I come under section 44AD even if I establish a sole propietorship ?
- If I come under 44AD I need to pay just 8% of payments as tax ?