Huf related quarry

I am senior citizen and my income from other source ( interest income) is 5 laks. We are three brothers and mother and father is expired . While partition of property of parents i would like to get shares ( present market value) about 40 laks . 1) can i create HUF and open dmate account of HUF and get transfer shares directly to HUF dmat account , so that whule sales i can deposit same in huf deposit and get exemption of interest income up to taxable limit. 2) in march 2017 i have created HUF for my son and his wife . My son has transferred rs 5 lakh to his huf and invested 5 lakh in MUTUAL fund . There is no income . This step is correct to create HUF capital . There is no income , so is it necessary to file return ? In balance sheet amount of 5 lakhs transfeered to be shown under which head , Please guide above for my two quarries , as i am to much worried . Kamlesh shah Sent from my iPad