Can HUF’s help in saving taxes?
If anyone has done that, can someone explain in simple terms?
If this is for salary then
first - did your company allowed you to take salary into a huf?
Second - if this covers income from other sources, talk with your CA pls.
Theoretically, answer to your question is yes.
My family has setup huf to consume the income from our stationary shop.
But I could not get any of my employer accept my request to send salary to my huf.
If the employer agrees then we can ask them to transfer money in HUF so that the slab rate decreases right? What’s the slab rate for HUF?
Even if employer doesn't pay directly into your HUF, if you're investing with the HUf pan, the capital gains become exempt upto 3L. Other deductions also apply. I've only studied it, yet to set up. Appreciate comments from those who have HUF actively
