HUF

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sanjay rastogi (Querist)
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17 January 2011 I got married on 02/12/1999. And I have two daughters,first one born on 28/11/2002.

I wish to use HUF as a tax saving tool.

1.. what should be date of incorporation/birth ??? date of marriage or date of birth of first born??

2.. How is the capital created in this account. Should i deposit cash in the new bank account (as gifts recd over the last ten years or should i put my cheque as loan ??)

3. can i take consultancy or commission income in this HUF account.

Suggest me a good website/book/info source for taking advantage of HUF as a tax saving device.

regards,

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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17 January 2011 1.. what should be date of corporation ? Ans. date of marriage.

2.. How is the capital created in this account.

Ans. deposit cash in the new bank account (as gifts recd over the last ten years

3. can i take consultancy or commission income in this HUF account.

It requires a personal "touch" to carry on Consultancy or Commission Income.
However, a business establishment can be shown in the name of HUF and it may be shown as carrying on the above said business.
For more details - follow the links
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https://www.caclubindia.com/share_files/all-you-want-to-know-about-huf-27905.asp

https://www.caclubindia.com/forum/faq-on-huf--107806.asp
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Please wait for the opinion of experts in this matter.

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