I want to know what are the legal formalities required in India for starting a website. I mean if i want to send/receive checks DD's transferr/receive money online though bank gateways,creditcards,debit cards. Please provide inputs for best practices for startup websites.
Are you in india? I do believe it would be smart to register a company and then read up on the rules for taxes etc.
You should be fine. The only problem is taxes. You might want to read up on it or consult some one for it.