Everything by LLA is very good and detailed, thank you for providing all these for our jagruk jantha. I would like everyone to like the video also rather than just viewing the content so that they get more promotions
When I first applied for the PAN CARD using Physical form. I saw HUF in the form as an option. Till today, I had no idea regarding HUF can be created with an individual (Members) PAN card. Thanks, @LLA for the very detailed video on HUF.
I am single and the income tax department is such that they allowed me to frame HUF Pan Card then came bank which were more foolish to allow me to open account while being unmarried and til date I am saving tax.
Excellent video by Sri Rishabh Jain and Sri Anoop Bhatia. It is very structured and answers most the questions about HUF. Good collaboration. God bless you 🙏 Is a HUF required to file an ITR if it does not have taxable income. Company or Firm is required u/s 139
Hello Rishabh 1. Can Karta of HUF gift his/her HUF say upto 250000 and file ITR(NIL) of HUF with income from other sources and invest the same in stock market to generate income for HUF? 2. Can a person gift his wife and she can further invest to generate income for her self? 3. Please make a video on filing ITR.
Great Knowledgeable video. Specially understanding about HUF in simple manner by CA Anoop Bhatia Sir is very pleasant. Rishab Jain Sir you are doing tremendous work Just keep going. it will good to see again and again with Anoop Sir. I really like your videos.
Thanks a lot Rishab and Anoop ji for this exceptional vlog where I could clear all my doubts. Great job Labour Law Advisor for such educative videos on business and finance.
1) If coparcener is a partner in a partnership firm on behalf of HUF - Then income from partnership firm will be added to the income of Partner or HUF ?????? 2) If HUF can take loan from members and coparceners - Then it means that HUF can show this as capital as well and pay interest on this capital to the members of HUF. Can this be possible to raise capital in this manner in HUF ?? 3) If coparceners of HUF divide their property among all of them - Then the HUF can work in similar manner as before partition ?? 4) HUF cant be dissolved - Does this mean once we form HUF - we can never get rid of HUF concept - HUF will continue forever ????
Sir, if a couple who does not have children forms an HUF and later one of the spouses dies, does the HUF still survive with the living spouse as its sole member?
See that even a single person can form an HUF income tax rule kahi check hi nahi hota hai apna PAN card banvaiye aur small financial bank mai jake hud account khulva lo vo aps puchange hi nahi wife kon hai
Wow sir, apke vdo se hum jaise school students aage jake bhout kuch kar payenge , hope kisi app aage bhi aise simple aur assan vdo banayenge, hope ki sir aap CA anup sir and CA rachnana ranade ka collaboration kar k kuch banaye maza ayega 😁😁
@LabourLawAdvisor Question on LLP. At time 20:10 As you said two HuF can make partnership firm, but rule says karta can not be partner of any LLP. Can you clarify that?
1. Sir Could I start SIP in stocks/mf from my current account of prop. Firm. 2. If yes, what would be taxation on my invested SIP annual amount. 3. If I gain LTCG then it would be taxed 10%. Or profit would be added in my net income and then taxed according to IT slab.
Thank you Rishabh and Anoop ji for this enlightening video. May you get all the success to keep up the good work. I do have one query that I would appreciate an answer on, regarding the gift that can be given to HUF by an external member, is there a limit to the number of times the gift can be given, I.e. Can I take 5Lakhs twice in a year?
If I form a HUF, can I transfer my salary to fund the HUF and trade in stock market, will I have to pay tax on the stock market returns as individual? Or only huf will be taxed since it's a capital infused by one of the HUF members?
@@Noone-hh5cq So if a am karta of the HUF account and I have deposited some x amount in the HUF account then will it be taxed as income (if it falls in slab) for HUF and will any interest earned on that money be taxed only for HUF or for HUF and Karta
Need help to understand following - 1) If I transfer stocks from my demat to HUF then who has to pay CG tax - Me or HUF? 2) What about real estate...If we want to transfer our apartment in name of HUF, do I need to reregister and pay stamp duty? Rental income from such property will be income of me or HUF?
Rishabh, I've questions regarding money added to HUF. 1) If money added by member like my wife to the HUF account then her deposited money to HUF account would be tax free for her? (For example if she earns 100000 per month and she gifts 20K to HUF aacount then she has to pay tax on only 80K or she has to still pay tax on 100K?) 2) limit of 50K gifts can be received in HUF but this is the limit of per annum or per month?
Affidevit is not really needed to apply for HUF PAN card..make sure when you apply foe the card online..add HUF after your name...refer to how to fill up a form online
Sir , great knowledge provided by you. 1) I have one HUF comprising My mom , me and wife. Can I open new huf of me , my wife and 2 children. 2) What if I transfer my money to HUF for stock trading /IPO? It will taxable to whom me or HUF in case of sell of stock thr HUF demat?
Thanks for this excellent explanation by you and Anoop sir. Also, please consider a situation where son gifts Rs. 5 lacs to father (no tax implication since relative). Now father gift these 5 lacs to son's HUF where father is not a member. This gift of 5 lacs would be taxed in the hands of HUF (no clubbing since gift not received from member) and lets say this is invested and interest of 40,000 earned. Now total income of HUF would be 5,40,000 (gift + interest). And tax thereupon can be brought to 0 after availing various deductions. Earlier son had invested this 5 lacs in his personal PAN and was paying 30% tax on this interest (40000*30%= 12,000) And now by transferring this to HUF, tax on this interest is Nil. So effectively 12000 saved here. Is this tax planning possible? Please correct me if I'm going wrong anywhere.
can someone explaint this: Anoop sir gives example if you received Rs 5 Lakh from father in law while calculating tax Rs 2.5 lakh gets exempted and 1.5 lakh gets exmpted under 80C. How that 2.5 Lakh gets exempted?
"Transferring Own property to Huf without adequate consideration will attract the provision of Clubbing and hence any rental income received by the HUF will be clubbed in the hands of Transferor. Mam correct me if I am wrong!!"
I want to know ki agar mai 30% tax slab mai hun and kafi jyada tax pay karti hun to kya mai HUF open kar sakti hun for tax saving purpose? I have a spouse and child.
Question 1 kya minor bacche HUF me include kar sakte hai? Question 2 kya Male karta apni personal property HUF ko transfer karke , HUF ko usi property ka rent pay kare toh wo HUF ki income me count hoga kya?
Ek baat ye batayen ki, HUF agr mere papa ka hai, aur mai ek govt employee hun. To qa huf ke demat account se intrday ya short term trading ki ha sakti hain?
I have a flat on my name. Now I want to include my wife as a co-owner. How can we make use of HUF here to get tax benifit for her as well ? In this case can we both get the benifit of 2L on interest amount ? Currently I am only applicant on my home loan.
risky move. bina contribution k kisi ko co-owner nahi banana chahiye. aajkal rishtey bhi kamzor hain. baki kuch special cases me log acche bhi nikalte hain but who knows
HII video is very imformative.. just one question when person transfer propeerty of money to HUF is need to pay gift tax or any stamp duty or any other tax
Sir, thanks for this awesome video. I am now opening HUF account Can you please suggest whether initial contribution (when we open the account) is exempted even if it is paid by karta and member. Is it true or the gain on that amount (greater than 50K, lets say 5lacs) will be clubbed as karta’s income Will wait for your response before opening the account- thanks
I have a full time job along with it I also do freelancing in IT Services and get paid from US clients directly in my bank account. What is the best way to manage this fund instead of receiving the money in my personal account?
can more than two or more salaried person open HUF who have Demat accounts and rented houses on their name. Nice series very informative thanks Mr Anup ji and Mr Rishab ji
I've heard we can save some tax under the name of salary to members of HUF. That true? If yes, would it make any difference if the source of income is karta's salary alone?
Thanks for sharing such valuable information sir....plz guide can a property be purchased directly in name of HUF.Directly means has no linkage to ancestoral assets.Eagerly waiting ur reply sir
Hello Risabha, I just wanted to know if I have any personal liabilities pending, and if something happens to me, will my term insurance cover those liabilities? I am planning to make my HUF the nominee. In that case, will my HUF be liable to pay off my personal liabilities?
Hax to Save Tax: www.taxplanningforsalariedemployees.com
💸DEMAT Account: link.lla.in/Demat
Sir mails msg tweet kahi to reply dedo
it would be helpful if english subtitles are added for non hindi speakers... or can post in english please
I need help!!!
My current organization which is Tech Mahindra, is not giving me my salary slip and Wi-Fi reimburse. What should I do?
@@musiclove3272 they have to give salary slips. Escalate it to the HR? what is their response on the matter?
Are u Rishabh Jain from DAV Centenary Paschim Enclave.?
Extremely well-detailed and answers all the important questions. Thank you!
BHAII.BHAII 😂🎉
CA.INTERN'S
LOVE FROM INDORE M.P❤
Everything by LLA is very good and detailed, thank you for providing all these for our jagruk jantha.
I would like everyone to like the video also rather than just viewing the content so that they get more promotions
When I first applied for the PAN CARD using Physical form. I saw HUF in the form as an option. Till today, I had no idea regarding HUF can be created with an individual (Members) PAN card.
Thanks, @LLA for the very detailed video on HUF.
I am single and the income tax department is such that they allowed me to frame HUF Pan Card then came bank which were more foolish to allow me to open account while being unmarried and til date I am saving tax.
Thanks a lot, this is my first monetary thanks to any video on youtube
O bhai kya gyaan dete ho.🙆🙋
. PhD level ke uper ka knowledge he. 😍😍😍😍😍😍
Bhatia Sahab kitne pyar se explain karte h..
Rishabh ji, your channel is the most useful channel in all of you tube. Thanks a lot!
Best channel....this video should reach every individual...till date i dont think so anybody knew about this..thanks a lot for this informative video
Excellent musuc. Beautiful way of talking by ca sir and hist is a great simpleton. Loved this video.
Loved it. Please cover more unhidden facts like these....❤
*hidden
Thank you so much for video. I was searching and reading a lot of content on web but didn't find such detailed video. Thank you again.
It couldnot have been better than this. Excellent format.
Really Nice. It has cleared all doubts. This may be the BEST video available.
Glad it was helpful!
Thanks a lot. This episode is really useful for a lot of 'sadharan janata'.
Excellent video by Sri Rishabh Jain and Sri Anoop Bhatia. It is very structured and answers most the questions about HUF. Good collaboration. God bless you 🙏
Is a HUF required to file an ITR if it does not have taxable income. Company or Firm is required u/s 139
Hello Rishabh
1. Can Karta of HUF gift his/her HUF say upto 250000 and file ITR(NIL) of HUF with income from other sources and invest the same in stock market to generate income for HUF?
2. Can a person gift his wife and she can further invest to generate income for her self?
3. Please make a video on filing ITR.
Beyond doubt … your channel is making amazing job
Simple and informative, I didn't know all these facts. Thanks a lot
So much informative video
Got all doubts cleared
Great Knowledgeable video. Specially understanding about HUF in simple manner by CA Anoop Bhatia Sir is very pleasant. Rishab Jain Sir you are doing tremendous work Just keep going. it will good to see again and again with Anoop Sir. I really like your videos.
Bhai ap muje bata sakte ho simply ki HUF kya hota hai
Thanks Rishabh brother.. this actually help
Thanks a lot Rishab and Anoop ji for this exceptional vlog where I could clear all my doubts. Great job Labour Law Advisor for such educative videos on business and finance.
Very well explained and simplified ! Please keep these coming! 🙏
Very detailed n helpful video. Thnx a lot for such great content.
Nicely explained by Rishabh ji and Anoop Ji
Your intro music is awesome and thanks for sharing this valuable information.
Could you please explain about how expenses will be manage in case of HUF, with some example. What proof need to submit or how it works?
1) If coparcener is a partner in a partnership firm on behalf of HUF - Then income from partnership firm will be added to the income of Partner or HUF ?????? 2) If HUF can take loan from members and coparceners - Then it means that HUF can show this as capital as well and pay interest on this capital to the members of HUF. Can this be possible to raise capital in this manner in HUF ?? 3) If coparceners of HUF divide their property among all of them - Then the HUF can work in similar manner as before partition ?? 4) HUF cant be dissolved - Does this mean once we form HUF - we can never get rid of HUF concept - HUF will continue forever ????
I like the background music of your YT channel. Ofcourse the content & information provided are also very good
Great knowledge.
Thank you LLA
Sir, if a couple who does not have children forms an HUF and later one of the spouses dies, does the HUF still survive with the living spouse as its sole member?
Yes it does. It can continue even if the surviving spouse chooses to remarry.
No in that case HUF ceased to exist and becomes individual property. There must be at least 2 members to continue as Huf.
See that even a single person can form an HUF income tax rule kahi check hi nahi hota hai apna PAN card banvaiye aur small financial bank mai jake hud account khulva lo vo aps puchange hi nahi wife kon hai
This is really excellent video I found on HUF on UA-cam
Wow sir, apke vdo se hum jaise school students aage jake bhout kuch kar payenge , hope kisi app aage bhi aise simple aur assan vdo banayenge, hope ki sir aap CA anup sir and CA rachnana ranade ka collaboration kar k kuch banaye maza ayega 😁😁
You are a brilliant channel
Very interesting & nice information. Refreshed all legality of HUF👍🏿👍🏿🙏🙏
Yes, thank you
150000 ki 80c hai individual ki to wo dono jagah le sakate hai kya .huf and individual me
@LabourLawAdvisor Question on LLP. At time 20:10 As you said two HuF can make partnership firm, but rule says karta can not be partner of any LLP. Can you clarify that?
Very impressive, all the points covered.
A ton of thanks to LLA team'❤️
Nice informative vedios..keep posting..also post vedios relating to IT proceedings by taking practical examples.
We will try
watching it the 3rd time and I finally am getting it. Thank you for this video.
I want to setup a small manufacturing unit should I start with proprietorship or HUF
1. Sir Could I start SIP in stocks/mf from my current account of prop. Firm.
2. If yes, what would be taxation on my invested SIP annual amount.
3. If I gain LTCG then it would be taxed 10%. Or profit would be added in my net income and then taxed according to IT slab.
Nice video... cleared a lot of doubts
Thank you Rishabh and Anoop ji for this enlightening video. May you get all the success to keep up the good work.
I do have one query that I would appreciate an answer on, regarding the gift that can be given to HUF by an external member, is there a limit to the number of times the gift can be given, I.e. Can I take 5Lakhs twice in a year?
At 11:08 shouldn't tax be zero because under 5 Lakh we get tax rebate on 12500 rupees under section 87 A.
Excellent information bhai log 🙏🙏🙏❤️
Is HUF good option for Travel business? Travel agent or Tour Operator or DMC. In Travel business, commission (markup) is major income source.
What an amazing content ... thanks for such explanation
16:41 me salary pe standard deduction count hoga ki nhi?
thanks you sir so very much, you cleared all my doubts in simple ways
SIR SUPERB.. PLEASE MAKE VIDEO REAGARDING HUF TRANSACTIONS AND TAXES AFTER DEBIT/GIFTS
If I form a HUF, can I transfer my salary to fund the HUF and trade in stock market, will I have to pay tax on the stock market returns as individual? Or only huf will be taxed since it's a capital infused by one of the HUF members?
U can open a separate bank account of HUF and transfer money to it. And can carry out any business. The HUF will be taxed separately for it's income.
@@Noone-hh5cq ya found the answer in the next 2 weeks and did exactly that. Thanks anyways
@@Noone-hh5cq So if a am karta of the HUF account and I have deposited some x amount in the HUF account then will it be taxed as income (if it falls in slab) for HUF and will any interest earned on that money be taxed only for HUF or for HUF and Karta
@@ashwinsnmv Can you put the reference video for checking
@@1993SWAROOP No reference video. There are plenty of info on Google.
Being a ca inter student it helped me to understand paper 4 and paper 2
Very interesting information.
Can you share history of HUF and why it was started.
Need help to understand following - 1) If I transfer stocks from my demat to HUF then who has to pay CG tax - Me or HUF? 2) What about real estate...If we want to transfer our apartment in name of HUF, do I need to reregister and pay stamp duty? Rental income from such property will be income of me or HUF?
Eye opener. Didnt knew about HUF in respect to taxation.
Can we get advices / consultation from LLA?
Rishabh, I've questions regarding money added to HUF.
1) If money added by member like my wife to the HUF account then her deposited money to HUF account would be tax free for her? (For example if she earns 100000 per month and she gifts 20K to HUF aacount then she has to pay tax on only 80K or she has to still pay tax on 100K?)
2) limit of 50K gifts can be received in HUF but this is the limit of per annum or per month?
This video was very helpful. Please keep making such informative videos👍
I will try my best
Sir private limited company ki video kab aayege???????? Thanks for your information 🙏🙏🙏
Soon
@@LabourLawAdvisor 🙏🙏🙏❤️
@@LabourLawAdvisor main single hoon kar sakata hoon kya
Ya papa ke nam per kare
Affidevit is not really needed to apply for HUF PAN card..make sure when you apply foe the card online..add HUF after your name...refer to how to fill up a form online
Zabardast great guys. Thanks a lot for this information
Bhai ap muje bata sakte ho simply ki HUF kya hota hai
Sir , great knowledge provided by you.
1) I have one HUF comprising My mom , me and wife. Can I open new huf of me , my wife and 2 children.
2) What if I transfer my money to HUF for stock trading /IPO? It will taxable to whom me or HUF in case of sell of stock thr HUF demat?
What should be the surname in huf it would be family surname or can be some combination of first and last name of karta
Jo mujhe mere father se will me mili hai wo paitrik sampatti hogi ya personal?
Should i take that in my personal balance sheet or huf balance sheet?
Thanks for the very detailed info. Can individual incomes of family members be considered as part of HUF income to avail tax benefit ?
Thanks for this excellent explanation by you and Anoop sir. Also, please consider a situation where son gifts Rs. 5 lacs to father (no tax implication since relative). Now father gift these 5 lacs to son's HUF where father is not a member.
This gift of 5 lacs would be taxed in the hands of HUF (no clubbing since gift not received from member) and lets say this is invested and interest of 40,000 earned.
Now total income of HUF would be 5,40,000 (gift + interest). And tax thereupon can be brought to 0 after availing various deductions.
Earlier son had invested this 5 lacs in his personal PAN and was paying 30% tax on this interest (40000*30%= 12,000)
And now by transferring this to HUF, tax on this interest is Nil. So effectively 12000 saved here.
Is this tax planning possible? Please correct me if I'm going wrong anywhere.
Need to plan properly
I also have same question . Aapko solution mila ????
Good 🌟 point
Why take the long route here, son should directly gift to HUF and not taxable in the hands of HUF also
@@LabourLawAdvisor what is not proper here?
Thankyou sir❤❤❤ for precious information
Are there any restrictions to use HUF money?
Can we withdraw or transfer money to someone for some personal cause?
Mr Anoop Bhatia is a legend
can someone explaint this: Anoop sir gives example if you received Rs 5 Lakh from father in law while calculating tax Rs 2.5 lakh gets exempted and 1.5 lakh gets exmpted under 80C. How that 2.5 Lakh gets exempted?
As first 2.5 lacs of income in non taxable
Pls elaborate the concept on commission income on sale of material & if karta gives gift to huf or take them what will happen
Online trading app doesn't allow to open account with HUF pan. Is there any way to open trading account with HUF pan card
dahej to huf mein hi lena 😂
Mere husband ne bhi aise hi dahej lia tha... His such a cootie...
Jai sairam......BABAMALIK🙏🙏😀 HUF KE INCOME BAN JAYEGE AUR FULLY TAXABLE HOGA.... SUBJECT TO CERTAIN LIMIT
@@shreyaraj5265 Are you serious ma'am ??
No
The gift received on the occasion of marriage is not taxable
"Transferring Own property to Huf without adequate consideration will attract the provision of Clubbing and hence any rental income received by the HUF will be clubbed in the hands of Transferor.
Mam correct me if I am wrong!!"
I want to know ki agar mai 30% tax slab mai hun and kafi jyada tax pay karti hun to kya mai HUF open kar sakti hun for tax saving purpose? I have a spouse and child.
Question 1 kya minor bacche HUF me include kar sakte hai?
Question 2 kya Male karta apni personal property HUF ko transfer karke , HUF ko usi property ka rent pay kare toh wo HUF ki income me count hoga kya?
Ek baat ye batayen ki, HUF agr mere papa ka hai, aur mai ek govt employee hun. To qa huf ke demat account se intrday ya short term trading ki ha sakti hain?
I have a flat on my name.
Now I want to include my wife as a co-owner. How can we make use of HUF here to get tax benifit for her as well ? In this case can we both get the benifit of 2L on interest amount ?
Currently I am only applicant on my home loan.
risky move. bina contribution k kisi ko co-owner nahi banana chahiye. aajkal rishtey bhi kamzor hain. baki kuch special cases me log acche bhi nikalte hain but who knows
interesting information ... however, income generated from huf and distributed to members ... is it taxable in their hands?
Profit share post tax No, Salary / remuneration yes
Can we transfer money received from our a/c received from Capital Gain by selling Gold to HU F a/c.
HII video is very imformative.. just one question when person transfer propeerty of money to HUF is need to pay gift tax or any stamp duty or any other tax
Gazab ka vidoe hai sir maza hi agaya
Very Informative video.
Thankyou
Can interest earned on a member's savings bank account be shown for HUF?
great video thanks for the detailed explanation.
love your work, keep it up.
Thank you. Very informative.
When a member of Huf taken loan from Huf and pays interest to Huf. Can the interest paid by individual help him in tax saving in his income tax file?
Income in HUF and Individual are considered while calculating Income of family?Both
Sir, thanks for this awesome video. I am now opening HUF account
Can you please suggest whether initial contribution (when we open the account) is exempted even if it is paid by karta and member.
Is it true or the gain on that amount (greater than 50K, lets say 5lacs) will be clubbed as karta’s income
Will wait for your response before opening the account- thanks
Very very informative ❤️🌟
I have a full time job along with it I also do freelancing in IT Services and get paid from US clients directly in my bank account. What is the best way to manage this fund instead of receiving the money in my personal account?
can more than two or more salaried person open HUF who have Demat accounts and rented houses on their name. Nice series very informative thanks Mr Anup ji and Mr Rishab ji
Did you get an answer to this? I too have same question.
Hello Sir,
Should a woman entrepreneur go for HUF or LLP if she wants to available MSME loans through Government schemes for MSMEs?
I've heard we can save some tax under the name of salary to members of HUF. That true?
If yes, would it make any difference if the source of income is karta's salary alone?
Thanks for sharing such valuable information sir....plz guide can a property be purchased directly in name of HUF.Directly means has no linkage to ancestoral assets.Eagerly waiting ur reply sir
Hello Risabha,
I just wanted to know if I have any personal liabilities pending, and if something happens to me, will my term insurance cover those liabilities? I am planning to make my HUF the nominee. In that case, will my HUF be liable to pay off my personal liabilities?
Thank you so much for well explained