I recently got divorced with my thai wife, we have a four year old daughter who is living with her. I have a company running from last four years, which my ex wife is still a partner in. My current visa expires next month.

what do i need to do? I am from India so do i have to go to India and apply visa again? If yes, what visa?

Are you here on a visa or on an extension of stay from immirgation? If on an extension of stay that was based on your marriage, you were required to leave the country the day you divorced your wife and are now on overstay at 500 baht per day, with a maximum of 20,000 baht.

Based on your daughter you could get an extension of stay, if the child lives with you and you take care of her. But the rules are not totally clear on that, you could try an extension base on your daughter. The best option might be to ask for an extension of stay based on employment, if you qualify for that and have enough income (you need an income of t least 35,000 a month).

If not, you can get a new non-O visa in a neighbouring country based on your child, you might however only get a single non-O.