Concept of huf
This query is : Open
26 April 2015
Had it not been introduced then how family business would have been taxed? It was introduced so that family business could be taxed in the hands of an entity called HUF.
Also see below links--
http://taxguru.in/income-tax/concept-huf-distinction-bw-coparcener-member.html
http://taxguru.in/income-tax/meaning-formation-taxation-membership-and-partition-of-huf.html
Also see below links--
http://taxguru.in/income-tax/concept-huf-distinction-bw-coparcener-member.html
http://taxguru.in/income-tax/meaning-formation-taxation-membership-and-partition-of-huf.html
02 May 2015
Without family business is very much possible. You can have sole proprietorship firm but HUF is for family business.
Suppose where a family is doing business together then who will be taxed? HUF.
HUF is also for saving tax by distribution of Income and availing the exemption limit and deduction.
Suppose where a family is doing business together then who will be taxed? HUF.
HUF is also for saving tax by distribution of Income and availing the exemption limit and deduction.
02 May 2015
How can HUF help individual to save income-tax: http://www.moneycontrol.com/master_your_money/stocks_news_consumption.php?autono=1007010
Also see article from link given below;
http://www.charteredclub.com/how-to-save-taxes-by-forming-huf/
Also see article from link given below;
http://www.charteredclub.com/how-to-save-taxes-by-forming-huf/
04 May 2015
WHATEVER U SAID IS CALLED EVASION OF TAX NOT SAVING OF TAX AS HUF IS CREATED JUST FOR TAX EVASION PURPOSE ....ACCORDING TO ME
04 May 2015
It is called Tax Planning and it is legal. Income Tax Act 1961 has provision for HUF.
16 May 2015
There is difference in Tax Planning as per laid down provision and Tax Evasion.
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