Following tax planning in huf possible or not ?????
CA Abhishek Singh (practice) (2106 Points)
08 September 2012
3 Replies
CA Ruben Balooni
(Professionalism ™)
(1324 Points)
Replied 09 September 2012
Yes. HUF will get dediction of Rs. 100000 u/s 80C
- Ruben Balooni
CA. Saurabh Garg
(Chartered Accountant)
(41 Points)
Replied 12 September 2012
Hi,
HUF can claim the deduction but you have to pay the tax on income earned by you. In this case if u earn approx 5 lac and u pay 1 lac to HUF and HUF invest the amount under investment specefied u/s 80C, HUF can claim the deduction but u have to pay the tax on income of Rs 5 Lac.
S S Dahale
( Agri and business)
(439 Points)
Replied 28 December 2015
What tax exemption are allowed for 80 C and 80CCD fora HUF ? , as PPF contribution fora New HUF has been banned , insurance companies are reclutant to issue term plan for Karta of a HUF
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