CA Raj Doshi
(Practising CA)
(8924 Points)
Replied 20 December 2014
Huf can do business not involving any personal,individual expertise( eg.Lawyer ). It can do trading business of products, shares etc.Up to 250000 of Total income, you can get benefit of not paying tax. A. IN CASE OF SALARY - Huf cannot be formed. If there is other income like share trading business, then you can invest in the name of huf and divert income. B.IN CASE OF BUSINESS - Any business not involving personal , professional individual expertise.