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Huf

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Querist : Anonymous

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Querist : Anonymous (Querist)
20 June 2013 Hello Sir, i am opening an huf in the name of my father. we are a family of 4. my brother is a salaried person. can i make him a member(coparcener) in the huyf...???

if yes, then, please tell me that if my brother's salary income is above the basic exemption limit of 2 lacs rs, then can he can save tax by giving his incomne to huf..??? what will be the consequences n what will be its taxation..??
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
22 June 2013 Yes. you can make your brother as coparcener, how ever he is liable to pay tax for his salary income
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Querist : Anonymous

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Querist : Anonymous (Querist)
24 June 2013 thanks sir,,...


but sir, can my brother by way of giving gift or loan to huf plan his income saving..????

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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
24 June 2013 even though he is gifting, for his income he is liable to pay tax.

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