Tax saving in huf

This query is : Resolved

AMIT SAXENA (Querist)
Follow

05 January 2016 Sir,

Please help me, how can i save tax in HUF. also comment on whether HUF can open a PPF account.

Thnks

Ankur Singhal

Ankur Singhal (Expert)
Follow

05 January 2016 HUF can deposi PPF of member and claim deduction but it cannot open the ppf account in its name.
can pay life insurance premium of member and claim deduction.

Message likes : 1 times

AMIT SAXENA

AMIT SAXENA (Querist)
Follow

05 January 2016 if a member already claims PPF deduction in his personal return than can he open a new seperate account of PPF for claiming deduction in HUF?

Upgrade to CAclubindia Pro. Subscribe Now!

Ankur Singhal

Ankur Singhal (Expert)
Follow

05 January 2016 No he cann't do that .
you may deposit ppf in account of karta or other member.
in this case opt option 2( insurance)

Message likes : 1 times

AMIT SAXENA

AMIT SAXENA (Querist)
Follow

05 January 2016 thank you..its helpful.