You can declare business expenses like travel, phone, mobile, internet,
hotel, salaries to assistants, office rental, power consumption etc. You do
not have to send the bills but you have to keep them in case they come
calling.
And you should be paying advance tax on sep 15, dec 15 and march 15.
Its easier to do it through an auditor and I think if the income is above
10 lakhs you have to have your accounts audited even if you are an
individual!
If your billing is in INR and if it exceeds 10 lakhs per annum, then you
have to register for and pay service tax. Not necessary if its in forex.
Hope than helps.
Regds,
mano
On Wed, Mar 5, 2014 at 9:06 PM, PrasannaKumar Muralidharan <
prasannatsmkumar at gmail.com> wrote:
I am not much informed on this. There must be some permissible
deductions as regular businesses do.
Regards,
PrasannaKumar
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