Hello Seniors,
I am an HR professional who is on a career break due to personal reasons. Now, I want to start a business along with my friend who is already working with a company on a full-time basis. My queries are as follows:
1) As I am not working anywhere, I will be the face of the company. For any payments, my bank account will be used.
2) Nature of business: we will be sourcing kids' profiles to required clients for modeling purposes (from parents who are willing for their kids to model).
3) If I start as a freelancer and not as a company, then what points need to be covered. Kindly advise me on points from a legal point of view that need to be covered from both a company point of view and as a freelancer.
Waiting for your valuable inputs.
Warm Regards,
Meenakshi
From India, Delhi
I am an HR professional who is on a career break due to personal reasons. Now, I want to start a business along with my friend who is already working with a company on a full-time basis. My queries are as follows:
1) As I am not working anywhere, I will be the face of the company. For any payments, my bank account will be used.
2) Nature of business: we will be sourcing kids' profiles to required clients for modeling purposes (from parents who are willing for their kids to model).
3) If I start as a freelancer and not as a company, then what points need to be covered. Kindly advise me on points from a legal point of view that need to be covered from both a company point of view and as a freelancer.
Waiting for your valuable inputs.
Warm Regards,
Meenakshi
From India, Delhi
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Everything depends on the kind and quantum of funds you have. Starting out as a company will require capital and funds for expenses required to complete all the formalities. You can start small as a freelancer, and as your business grows, you can incorporate it into a company.
In any case, at the bare minimum, you will have to register for GST as a service provider. Whenever any company pays you, they will be paying 18% GST on your behalf, which they cannot get credited back to them as Input credit.
From India, Delhi
1446In any case, at the bare minimum, you will have to register for GST as a service provider. Whenever any company pays you, they will be paying 18% GST on your behalf, which they cannot get credited back to them as Input credit.
From India, Delhi
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