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Q. > Please Help: GST
Dear sir,
my one client have kirana and cosmetic business have gst number in name of his wife
can i will make another non gst firm upto 40 lakh turnover in favour of his son for tax planning point of views either direct tax or indirect tax and business loan point of view or other benefits or son become self dependent by his income-tax return and getting his 1 number ki capital in books of accounts bcz son is not earn any income
as per my knowledge income divided in two firms than income tax benefits for gst proprietor
Thanks
Dr. Ajay Jajodia
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rakesh kumar kedia
20-May-2021 , 01:11:43 pmYes in every pan the aggregate turnover for goods is 40 lakhs after which u have to obtain the gst registration no. so u can open another firm in different pan .so u can take it in ur son name and son should be major.