1. #1
    Unregistered

    Can I open personal counselling company while working as a professional consultant in an MNC?

    I am a professional consultant in an MNC. I wanted to open my own business concern as counselling company. Am I allowed to do legally? What will be the formalities needed? If am free to do this will my income generated though be a taxable salary or not?

  2. #2
    bonomali Array
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    Feb 2013
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    Re: Can I open personal counselling company while working as a professional consultant in an MNC?

    Hello,

    No, there will be clash of interest between your present job and your company. If you want to start
    your consulting company then the best option would be to resign from your current job and start a
    new company. in this way there will be no leagl problem. More ever how can you give time to two
    job at the same time. Consulting job at MNc requires a great amount of time so you will not be able
    to give sufficient time to your company. So, you better leave your job and start your company.

    Bye,

  3. #3
    lamborgini Array
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    Re: Can I open personal counselling company while working as a professional consultant in an MNC?

    Hi,

    You can do a job and your own private business together if you are comfortable with it.
    The bigger issue will be generated when you do not get time to work for one of the company.
    Your work load will increase.

    And yes the income generated from it will be taxable.

    If you are really interested in opening your company, then you must do it in partnership if you do not want to leave this job.
    You can work here and your partner can work there and you can give your ideas regarding the matter.
    In partnership, it will be feasible.

    If you really understand and believe in yourself.
    Then you can resign this job and start your company.

    Good luck

  4. #4
    aman Array
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    Re: Can I open personal counselling company while working as a professional consultant in an MNC?

    First of all if you want to open your own counselling company than you will have to look the terms and condition regarding your job in the company. See if there is any such clause in your bond with the company that you cannot work any where else while providing your services to the company or can open your own company than you cannot legally start such company. So it is better that you see the agreement signed by you with the company.

    Now if you are too passionate about running your own business with the experience you have gained than you can quit the job and can start your own business. Though it is risky to leave a job and run your own business but this is the only way, as practically also you will not able to do the job and run your own business as any business requires full time dedication so that it could be run successfully. As you are running a business for profit your income is taxable.

  5. #5
    john215 Array
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    Re: Can I open personal counselling company while working as a professional consultant in an MNC?

    Re: Can I open personal counselling company while as a professional consultant in MNC?

    Hi friend,

    I think If you want to start your own consulting company then the best option would be to resign from your current job and start a new company.
    In this way there will be no legal problem.
    More ever how can you give time to two job at the same time.
    Consulting job at MNC requires a great amount of time so you will not be able to give sufficient time to your company.

    So you can leave your present job then after started your own consultancy office.

    Thanks!!!
    all the best..............

  6. #6
    Rituja Array
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    Re: Can I open personal counselling company while working as a professional consultant in an MNC?

    Since you are somewhat involved with an MNC, this means it is solely a private affair and not a government one! You have the entire right to open up a counselling company of your own, provided you have not signed any bond or contract with the MNC in this regard. If you have signed up any contract with the MNC ,that for a period of 5 yrs or for the period you are working with them, you cannot up anything of that type of your own, if you are free from any of these agreement and its constraints, then you can definitely open a business of your own. The question of tax paying will depend on the income generated from such company corresponding with the tax paying slabs by the Dept. of Income Tax.

  7. #7
    Ashok Array
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    Re: Can I open personal counselling company while working as a professional consultant in an MNC?

    Quote Originally Posted by Unregistered View Post
    I am a professional consultant in an MNC. I wanted to open my own business concern as counselling company. Am I allowed to do legally? What will be the formalities needed? If am free to do this will my income generated though be a taxable salary or not?

    Dear Aspirant,

    Your thinking is not good,but if you start this new counselling centre either at your residence or at outside,your employer may transfer you elsewhere.If at all,if you start it ,you will have to incorporate this income in your IT return & accordingly you will have to pay the taxes.Secondly,you will have to maintain the timings in such way that it should not touch with your official timings.

    If you are interested,you should contact the registrar of the company with your proposal.You will be guided in details to do in order to achieve your target.

    So think well & proceed accordingly.

    Thanks & good luck.


  8. #8
    abhinandan Array
    Join Date
    Jun 2013
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    64

    Re: Can I open personal counselling company while working as a professional consultant in an MNC?

    Hello*******
    User*******
    ++++++++++++Try this method for this issue++++++++

    **********your consulting company then the best option would be to resign from your current job and start a

    **********new company. in this way there will be no legal problem.

    **********More ever how can you give time to two

    **********job at the same time.

    **********Consulting job at MN c requires a great amount of time so you will not be able.

    **********to give sufficient time to your company. So, you better leave your job and start your company.

    **********First of all if you want to open your own counselling company than.

    **********you will have to look the terms and condition regarding your job in the company.

    **********See if there is any such clause in your bond with the company that .

    **********you cannot work any where else while providing your services to the company or can open your own.
    **********because you know that your boss has a lot of expectations

    **********you and you are scared of not living up to his expectations.

    **********I would suggest you to take up this opportunity as a challenge and move ahead .

    **********you really want to taste the sweetness of success, then friend you have to accept challenges in the disguise of opportunities.


    **********You should not loose such an opportunity when it is coming to you.

    **********If you refuse this kind of chance then in future.

    **********when you will want such thing you may not get ad will have regret this one.

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