I am starting a small international outbound sales campaign and will be selling my web development services. 100% payment will be received in Euros through wire transfers in a bank account or through Paypal linked with my bank account.
Can I use my Saving bank account to receive payments from my clients? Or is it necessary to open a current account?
I will be paying a certain % as commission on every sales to a couple of sales guys (who are not my employees but only working on commission). Can I show this as an expense in my IT returns?
Since I will be receiving all the payments in Euros so am I falling under a category of "Exporter of services"?
Do I need an Import Export Code (IEC) for smoothly running this small business?