Need your valuable suggestions

If u r an individual u ll get exemption of 180000/- and as soon as u create an HUF u ll get an additional benifit of 180000/- so 180000/- stright away deducted from ur income as it ll be income of ur HUF...... , but it depends on what u r doing i mean if u r a salaried person then it  wont be that much benefitial.... if in business u take this advantage............

For better tax planning ... refer the following points

(i) Increase the number of assessable units through the device of partition of theHUF.

(ii) Create separate taxable units of HUF through will in favour of HUF or gift toHUF.

(iii) Enter into family settlement / arrangement.

(iv) Payment of remuneration to the Karta and also to other members.

(v) Providing loans to the members of the HUF.

(vi) Gift to members.

agree with rajesh

Dear Rajesh,

Partition of HUF is not allowed by law, n if the department would come to know about ur tax planning then it would be consider as the evasion n not planning.... and assessee would be in trouble..

As far as gift is concern there also limits have been introduced so u can not save much on that also......

so i would say its better to create an HUF but take the benifits only to the minimum or allowed by law...

agree with all of you and thank you for your suggestions