Save Tax with HUF | Tax Planning Through HUF Part-1
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- Опубліковано 18 жов 2024
- If you're a Hindu Undivided Family (HUF) in India, you may be wondering how you can use this unique tax planning tool to your advantage. In this video, we'll explain what HUFs are, how they are taxed, and how you can use them to save on taxes and plan your finances.
First, we'll define what HUFs are and how they differ from individual taxpayers. We'll then discuss the tax benefits of HUFs, such as the ability to claim separate deductions and exemptions, and the lower tax rates for HUFs compared to individuals.
Next, we'll explain how you can create an HUF and the documentation required to do so. We'll also discuss the importance of maintaining separate financial records and bank accounts for your HUF.
We'll then dive into some tax planning strategies that you can use through your HUF, such as income splitting, gifting, and investments in your HUF's name. We'll provide examples of how these strategies can be used to minimize your tax liability and maximize your savings.
Finally, we'll provide some tips and best practices for managing your HUF's finances and staying compliant with tax laws and regulations.
By the end of this video, you'll have a comprehensive understanding of how HUFs work and how you can use them for tax planning and financial management. So, join us and let's explore the world of HUFs and tax planning together!
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Awesome exp you have sir and portrayed it very well . Thanks from bottom of heart sir
Great session and I love these "Tax Thursdays". Thanks, Yadnya
very good info sir, these videos help to plan better and save taxes.
please provide details about these points.
1. How can we fund HuF with respect to capital. can we withdraw this capital
2. where can we spend this money from HuF, are there are any restrictions
3. can we transfer stocks to HuF account?
पेशेवर न केवल अपने काम के बारे में विस्तार से बताते हैं, वे आपको इसे अपने लाभ के लिए अनुभव करने की अनुमति देते हैं। मिस्टर जॉर्ज सोरियानो कोई ऐसा व्यक्ति नहीं है जिससे आप आसानी से मिल सकें या संपर्क कर सकें, मैं उनके साथ काम करके बहुत खुश हूं, धन्यवाद सर।
His telegram
@Jorgesorianoll
Thank yoy for detail understanding of HUF
Good information. This initiative is indeed going to benefit viewers
Very good video. Thnx a lot.
Thank you,
Looking forward for the next part.
Kindly inform detail of expenses that HuF can make.
Is 'Marriage of daughter' exempt from the income of HUF?
Please let us know.
Regards Amit Nikam.
Can you please share judgements which you mentioned for marriage and child
Awesome Inc
Nice explanation sir.
Sir if property in the name of karta then can rental income in HUF?
It’s a great video. Thank you for your efforts.
If an HUF is created with Karta n few coparcenors but with passage of time if only ONE member is left alive, can this HUF still exist and run?
Very nicely explained, 👍
Huf can be formed for salaried personal. How can he take Income tax benefits.
Nice
Father son ko kitne amount tak gift de sakta hai koi limit hai kya and kitna income tax lagega?
What is the difference between coparceners and members ?
HUF name are mandatory to use KARTAs name or can others name like "SCO HUF" , "XYZ HUF" can be given when deed is prepared ?
single woman or widow can form HUF?
How salaried person get benefit form HUF account ?
can i claim stcg on delievery equity trades as pgbp in my brothers huf ?
Schedule Tribe ,, ka HUF ban sakta hai ke nai.?
Sir there is a property in name of my father, can he give it on lease to my HUF. My HUF will generate rental income from it. Also, can my HUF give rent to my father for this ? this way we are planning to save tax on rental income generated on this residential property.
After opening HUF account if i work in abroad any problem?
Can HUF be created anytime?
Yes.... anytime after marriage...no compulsion of having child
OLD PF accounts to UAN transfer issues, please help if you already suggested with link✍️🙏🏼✨💐
Can huf hold demat
@@bhanum1988 yes
Can NRI form a HUF?
Is there a limit on the gift amount if the gift is given by the family members of the HUF?
Members of HUF can't gift to the HUF and even if they, any return on it will be club to their income.
However, parents/in-laws/relatives/friends of the karta can gift to the HUF & there is no limit.
@@yashminrevawala1054 Thank you. Sorry, I meant parents and other relatives. So, parents can gift any amount to HUF and it is not taxable. This can be a great way to create a corpus. Can parents gift a immovable property such as a house? Can parents gift shares of listed and unlisted companies to HUF? Are these taxable?
@@KUMARAMV Any gift amount greater than 50,000 is taxable as per the prevailing IT slab i.e. you can infuse capital upto 5 lakh without paying any tax on it.
Gifting 5 L wont be taxed , but I am earning it , it will be taxed for me right ?
सर मेरी ममी ( mother) कि 2017 मे निधन हुवा है और मेरे mother के नाम पे कुछ घर पैसा खेती जोकी आज मेरे नाम पर हो गया है क्या mother से मिला हुवा सारा का सारा property HUF मे transfer कर सक्ता हु क्या?
We don’t recommend to do that unless it’s through will
@@CAYOGESHKATARIYA is will required to registered ?
If Karta Gift 1.5 Lakh To HUF And HUF Invest It In ELSS Then Karta Will Have To Give Tax On That Amount 1.5 Lac Bcoz Of Clubbing Provision??
You are Correct
@@yashminrevawala1054 If Karta Gift 50000 In Single Financial Year Then??
No Tax Onus On Karta??
@@yashminrevawala1054 And Bcoz 1.5 Lac Is Post Tax Income Of Karta And Suppose ELSS Of That Amount Invested Don't Exceeded Profit Of 1 Lakh Then Why Karta Has To Give Tax???
And On Which Slab Rate???
@@Ashkita Any income (pre or post tax) transferred to HUF by Karta will be under clubbing provision
@@yashminrevawala1054 And If Karta Gives Loan To HUF With 8% Interest Rate And HUF Invest In ELSS Then??
Can Karta Take Back Amount After 3 Years When Elss Lock In Ends???
Can HUF take gift of 5 lack from parents?
Yes from the parents of karta
It’s taxable..
Sir, I am a govt employee by profession and I have a HUF PAN. Can I start business in the name of HUF? despite being a govt employee? Does any income generated being clubbed in my personal income? Another question, did I always maintain any legal documents after any contribution to HUF account?
U can do business in HUF, no clubbing unless u gift to huf.
मेरे पिताजी की डेथ हो गयी है, मेरे पिताजी की के PPF, FD के पैसे मिला के लगभग 24,28,476/- मुझे मिलेंगे,
क्या मै इस अमाउंट को मेरी HUF मै कैपिटल दिखा सकता हों ।
ओर मेरी HUF क्रिएट कर सकता हों क्या । ??
Hi
Too confusing video
Will try to be more simpler next time..