Hi Team,
I am software engineer who is earning good decent money these days with 30% income tax range. also, I provide techinical consultation to external clients who pay me based upon the task completion. which of course will add up to my taxable income.
I am trying to show this income as part of my wife's books of account, however, it's not manageable as well. I would like to understand if i could register for a HUF account and book this income as part of HUF and avail tax benefit, in that case, does the income earned from the professional services can be logged HUF or do i need to create a separate business under HUF? if a separate business does this need to be proprietary or partnership?
Thanks & Regards,
-Anil
CAclubindia
