Income tax related questions for Private Limited Company

POSTED BY Tushar ON October 15, 2014 11:06 am NO COMMENTS

Hi,

I am about to form a Pvt Ltd. I own an online retail store and sell basically in India and US. Apart from this I work on a freelance basis as well but 80% of my income comes from freelance work because the retail store is just one year old. And currently I am setting up a dairy farm as well. I have few queries.

I will be setting up PVT LTD in my online retail stores name. (Current Income – 16L PA, would increase to 25L)

1. Can I show my freelance income as retail or merge all the income under the XYZ name?

2. Should I register my dairy farm? If yes, how can I merge my dairy farm and retail store together?

3. How can I save tax on all these incomes?

4. When the PVT LTD is taxable, are the Directors/Owners also taxed separately?

5. Can the owner/director of the company buy a property in his name? How easily can he get a loan? Or should the property be bought under the company’s name?

Awaiting your replies. Thanks.

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