Induce money in huf

reply.......................................

1. If you have ancestral property and earning some income from this property, then it is better to transfer this asset to HUF and save tax up to exemption limit applicable to individual. 2. You can transfer the money received on sale of ancestral property /assets into your HUF. 3. gifts received on ocassion of marriage can be treated as asset of huf.

Whatelse? All these are not possible. He has no ancestoral property

Your Dad's HUF can receive gifts (receipts without consideration) from non- relatives. Receipts up to Rs. 50000/- will be exempt from tax. If amt exceeds Rs. 50000/- the whole of such receipts will be taxable as per the provisions of 56(2)(vii)

then i think its better to take non-interest bearing loan from relatives..... use it for your huf and later repay it.