• Investing in startup for ownership of income earning e bikes - start co. to save income tax

Sir/Ma'm, 
I am.plannong to invest about 31 lacs in an ebike startup for ownership of 30 e bikes which the company will put on rent for b2c and Bob with assures returns for a period of 4 years.At end of 4 years the company will buy back the ebikes.I am a regular salaried employee with a annual income of about 12 lakh pa(gross).Please advise best way to save tax on my e bike income for next 4 years (Projected income 1.45 lacs pm for 4 years).Should I start own llp and register these ebikes on the company or buy on my own personal name.I have personal loan of 68 lacs.Please suggest different options for best tax saving .Thanks in advance .
Asked 1 month ago in Income Tax

Register LLP or company.

Vivek Kumar Arora
CA, Delhi
4079 Answers
346 Consultations

5.0 on 5.0

Dear Sir,

 

Hope you are doing well !!

 

It is advisable to take a phone consultation for detailed discussion.

 

We may assist you for the same.

Payal Chhajed
CA, Mumbai
5084 Answers
157 Consultations

5.0 on 5.0

Hi

 

Since the issue involves many factors to be considered, we may discuss the issues over a phone consultation in detail and plan taxes accordingly.

Lakshita Bhandari
CA, Mumbai
5475 Answers
551 Consultations

5.0 on 5.0

Form a company and appoint two directors in it. Put share capital in company.Buy all the bikes in name of company & do the business. You can Pay two directors salary & withdraw money in that way. IN such way you can avoid taxes in your hand & further unlike other structures of business Profit in companies at max are taxed @25% against your slab rate of 33%. 

 

Chirag Maru
CA, Raipur
207 Answers

5.0 on 5.0

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