Huf

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

09 November 2013 There is a father who has a small business running with no anscentral property and only one source of income from business. He has a son who is working in a multinational. Is there any tax saving if an HUF or a trust is established ?

Kindly note that the father has only one source of income (business) and the son has only salary income

CA Vikas Acharya

CA Vikas Acharya (Expert)
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09 November 2013 Income of father's businesscan be shifted towards huf upto exemption limit.
But to be done avoiding link of business and huf

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