abhishek (Staff) (81 Points)
19 July 2011Hi
I want help regarding saving tax by creating trust or HUF.
My mother has some interest income which is taxable in 30% slab, plus salary income. I am the only son and too have salary income, so can not make investments in my name to save tax.
I came to know about creating HUF or a trust to save tax, can experts guide me if any such thing can reduce my tax burden.
Thanks
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 19 July 2011
your father can make HUF of himself, and you would get entitled to form HUF only after your marige.
abhishek
(Staff)
(81 Points)
Replied 19 July 2011
and actually what will be the benefit of HUF, i mean how will i be able to save tax once HUF is created.
And is there any option like creating some trust.
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 19 July 2011
CAclubindia
