HUF for saving taxes?
Has anyone tried using HUF for saving taxes on investments? Could you share your experience and how else has it been useful to you?
HUF is pre 1990 strategy. OPC /LLP/trusts is the best vehicle today For tax saving and asset building
Can you explain more ???
huF can helped when investments/savings were not taxed. This has changed now. If you move your money to HuF and earning out of that would still be taxed. You can make your savings thru 80c , and other standard items but that would be peanuts if you are in the 30% bracket.
Only way to save tax is by first spending and then paying your tax. The only way to do that is thru company - OPC,/LLP/ TRUSTS. Catch is you will be under more scrutiny by authorities and your CA will take you for a ride if you are not educated on the things.
