Hello to all experts here :)
I have a small query. I have just registered a private limited company and have got the following things :
1) company incorporation certification from ROC
2) Company PAN
3) Import Export code for software services
4) current account in a bank for company
So, just as a simple case - My company clients in Canada (it will be always from outside India) are going to transfer say 9-10 lakh per year (what if it's 20 lakh per year ?) in the company current account for company services and I will be withdrawing the same as salary of employees by showing genuine employees in the company and salary will always go directly in there bank account from company current account (checque or online transfer) and I will always make sure that there salary is not taxable (each employee will be paid less than say 1,60,000 per year).
I may have to go abroad next year, so just want to make sure it will be very simple to manage the whole thing from there without any complexities and breaking any rules. [Obviously, I am gonna file return etc with help of some CA but still need to make sure I am doing everything right.]
Also, will it be always annual return etc or do I have to something quarterly also ?
Anything else I am missing here ? Assume company is not going to get paid from clients in India and 100% of it will be from outside India. So, do I need to be registered for service tax ?
Thanks and Regads,
Parth
CAclubindia
