Hello everyone,
one my client (proprietor) is running english speaking and personality development classes.
in the fy 2010-11 his gross receipts was 12 lacs but he did not register himself under the service tax.
after that every yer his gorss receipts was >10 lacs.
since exemption of rs.9 lac is one time his liability to collect & pay service tax has already started.
He is planning to open 4-5 branches more.
What should be the tax planning ?
1. should he open a partnership firm/pvt ltd company ? or
2. should continue as proprietorship firm ?
CAclubindia
