how we can save rs 1 lac by creating the huf pan card in income tax
Gaurang Desai
(CA FINAL & CS Inter Student)
(123 Points)
Replied 15 March 2010
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
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