Following tax planning in huf possible or not ?????

Yes. HUF will get dediction of Rs. 100000 u/s 80C

- Ruben Balooni

Hi,

HUF can claim the deduction but you have to pay the tax on income earned by you. In this case if u earn approx 5 lac and u pay 1 lac to HUF and HUF invest the amount under investment specefied u/s 80C, HUF can claim the deduction but u have to pay the tax on income of Rs 5 Lac.

 What tax exemption are allowed for 80 C and 80CCD fora HUF ? , as  PPF contribution fora New HUF has been banned , insurance companies are reclutant to issue term plan for Karta of a HUF