Hi,
I work in a MNC and get paid as Salary income. I have now formed a HUF and doing business as Karta of the HUF receiving income in HUF (from totally different company than where I am employed). I am receiving USD in form of bank wire in HUF and the company paying is based in US.
Question 1 : My consulting business is bringing some costs, question is can I claim those expenses (For eg, I may need to hire a guy and pay him salary, may need to spend on IT equipments etc) under HUF ?
Question 2 : What should I do to avoid any income "clubbing" problems coming in future between my individual and HUF
CAclubindia
