Can i start a side business like spa or something while working in IT?
Will that effect my career in IT . Do they track my pan card and IT returns? If i want to escape from that, can i make my parents as the owner of the business and avoid getting caught by my IT company?
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In infy, yes. Or in an Indian company, having a side business is looked down upon. Even if it is a western MNC, if your reporting manager is Indian, he/she will not like it.
Indian managers like the dependency of the team members. The logic is managers tend to believe this dependency makes them controllable. Having a side business, makes the managers vulnerable.
My last company has WFH option even before covid. I had a team member who has a joint family run shrimp business in AP. His father passed away, so he opted for WFh to manage the shrimp business part that his father was handling. He was there to support his brother who was full time into it. My manager got to know this and he was immediately call back to BLR. He worked for 6 years with us, got promoted twice. At some point we used to think he was manager's favorite.
Not that it will happen for everyone, but precaution i better. Keep it secret until its big enough to support as full time role.
We must treat managers like stray dogs, keep saying "nice doggy" until you can find a stone and get behind the gate.
Yes, side businesses will affect your career. Hard to manage with job plus your employers will probably not approve of it.
Best to make a parent the owner to save tax as well.