I am a freelancer front-end web developer based in India. I have worked with clients in Canada, US and India. I have been freelancing full-time since the past three months and the projects are getting bigger with each client. Timelines have increased from 2-3 weeks to 1-2 months. I have also been getting graphic and other related work done from other freelancers who I pay on a project basis. In general things seem to be going upswing.
Recently I have decided to start a separate account for my business and somebody asked me whether I was a business entity or just an individual.
What are the benefits of becoming a business entity? How do I go about setting this up in India?