Residential Status of Returning Indians.

The following question was asked by a reader in the comment section of the post: Residential Status of Returning Indians.

Q: Is there a difference or advantage in operating as an Individual or setup a firm in trying to work from India for a US client? I assume as a consultant, I could claim tax deductions on travel and such. Would business setting enable tax deductions on rent if operating from home? BTW, any recommendation of folks who can advice me either in US/India regarding this would be appreciated.

As the query requires an exhaustive response, I thought it prudent to write a separate and detailed post so that other upcoming / budding entrepreneurs can also benefit from the advice.

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