What is the registration or legal formalities required to set up coaching classes?

N

Nikhil Sen

New member
I am running Language Coaching Classes in my city. Do I need to register my Classes (or name)? Are there any statutory provisions for running coaching classes?

Secondly, what are the tax related formalities?
My annual income from classes would be around 1 lac. Do I need to pay any tax (such as Service Tax) on it or will it be treated as personal income from business/profession under Income Tax?

Thanks in advance
Nikhil
 
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