huf

u can save total 2,50,000(ie 1,50,000(minimum exemption limit+1,00,000(deductions) but for that u have to create HUF.For the creation of HUF u have to show some business, thus u can trfs that 1lac in to HUF A/c,but while creating HUF your agreement will very much clear like nature of business, share of profit & another way is u can trfs 1 lac in to another relative a/c ie wife , parents