Shiv 09 April 2021
I want to create huf and start trading business but my service rules prohibit to involve me in any business and speculative trades on my own account or in the name of other so if my huf started trading ( I will also pay fees to professional for this )does it mean that I am engaged in the business or speculation , please guide .
Regards
Shiv
G.L.N. Prasad (Retired employee.) 10 April 2021
A HUF can not be formed and it should be in existence in between co-sharers of the undivided family that inherited properties and in continuation of joint status, the business can be undertaken. Contact a local advocate for an alternative solution. But the violation is always a violation through you may veil it and in future your active participation may bring issues. Insulate against all those risks and protect your job first.
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