should I open company or work with shopact or Freelance

Hi ,

I am freelance, working for US company for india on hourly bases as software developer. Based on project I am expecting to do business around 56 Lakh in this finiance year. This whole project is only for next 10 month.

I consultated CA's and I got three opinion  
First (1) suggested me to register under shopAct than open Current Account, service tax and import export code.
Second (2) Open current account on my name, register for service tax and import export code on my name. Keep gross income turn-over below 50 lk.
Third(3) Open a Pvt Ltd company , than open current account, service tax and import export code.

Now i am confuse which option should i select and also should keep my turn over below 50 lk to take benifit of 44ADA. as my expense are less.

Please help.