HUF business of coaching classes possible?

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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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?

Replies (2)
Quick Summary
This discussion explores the feasibility and practicalities of establishing a coaching class business under a Hindu Undivided Family (HUF) structure. It covers key questions regarding business setup, GST registration requirements for low revenues, managing cash transactions, deducting household expenses like rent and electricity, and utilising existing bank accounts. The aim is to provide guidance on operating such a business compliantly and efficiently.

You can do all above mentioned things according to you.

Can any chartered accountant give specific replies? Will really appreciate insightful replies. Thanks in advance!

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