Depends on where you're based. Best to talk to your local tax authority.
That said, I think generally it's better to just launch and get that initial revenue going. If you're just starting out with very limited revenue I think practically speaking nobody cares. It is a risk though.
Depends on where you're based. Best to talk to your local tax authority.
That said, I think generally it's better to just launch and get that initial revenue going. If you're just starting out with very limited revenue I think practically speaking nobody cares. It is a risk though.
If it helps, I live in India. And what is limited revenue (any number in $)? Is WIP registered?
I don't know the laws in India. Best to check with local tax authority and/or local entrepreneurs.
Yes, I have one corporation that holds all my ventures including WIP.