More over you will be paying double income taxes and compliance issues.
If your company makes profit it should pay 33% income tax. Net profit if paid as dividend then Company should pay 15% dividend distribution tax.
If you receive salary that is also taxed at your slab rates. Highest is 33%.
You have to appoint company secretary if it is Pvt. ltd. Additional returns to be filed with MCA charges also apply. Need to conduct board meetings and maintain records.
Other licenses from local authorities, paying of ESI, PF. PROFESSIONAL TAX, Fire license etc are mandatory.
If it is your personal trading business it would be the best.