Huf

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

20 June 2013 Hello Sir, i am opening an huf in the name of my father. we are a family of 4. my brother is a salaried person. can i make him a member(coparcener) in the huyf...???

if yes, then, please tell me that if my brother's salary income is above the basic exemption limit of 2 lacs rs, then can he can save tax by giving his incomne to huf..??? what will be the consequences n what will be its taxation..??

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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22 June 2013 Yes. you can make your brother as coparcener, how ever he is liable to pay tax for his salary income

Querist : Anonymous

Querist : Anonymous (Querist)

24 June 2013 thanks sir,,...

but sir, can my brother by way of giving gift or loan to huf plan his income saving..????

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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24 June 2013 even though he is gifting, for his income he is liable to pay tax.

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