1) Can a HUF start coaching class business? 2) How to set up the business? 3) Is there any requirements to register/take GST if we keep the revenues low (less than 10 lakhs)? 4) How much can the HUF take from students in cash (issue bills and get deposited in HUF bank account) in a financial year. 5) We plan to set up in our house. Should we pay rent in whose name the house is (member of HUF)? 6) Can we show electricity house bills as expenses? 7) We plan to get a bill book printed and give the bill when taking fees from students. Is there anything else that is needed? 8) Can we use the already set up savings account for banking needs?
Read more at: https://www.caclubindia.com/forum/huf-business-questions-income-tax-and-gst-542071.asp
Read more at: https://www.caclubindia.com/forum/huf-business-questions-income-tax-and-gst-542071.asp
1) Can a HUF start coaching class business?
2) How to set up the business?
3) Is there any requirements to register/take GST if we keep the revenues low (less than 10 lakhs)?
4) How much can the HUF take from students in cash (issue bills and get deposited in HUF bank account) in a financial year.
5) We plan to set up in our house. Should we pay rent in whose name the house is (member of HUF)?
6) Can we show electricity house bills as expenses?
7) We plan to get a bill book printed and give the bill when taking fees from students. Is there anything else that is needed?
8) Can we use the already set up savings account for banking needs?
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