Small business under huf
This query is : Resolved
Chetan Agrawal
(Querist)
08 October 2017
Hi
I have a HUF with my wife and minor daughter. PAN is also there. We have started a small home based business of re-selling dry fruits. we purchase it in bulk and sell it in small packets.
how do i show the HUF income and maintain accounts, as the business is mainly in cash.
I have a HUF with my wife and minor daughter. PAN is also there. We have started a small home based business of re-selling dry fruits. we purchase it in bulk and sell it in small packets.
how do i show the HUF income and maintain accounts, as the business is mainly in cash.
Amol S Joglekar
(Expert)
08 October 2017
see if you can fit into section 44AD. If yes, no need to keep books of accounts.
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