How to plan your finances with Hindu Undivided Family (HUF)

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Zerodha

Zerodha

Күн бұрын

Пікірлер: 256
@techievena
@techievena Жыл бұрын
Great content! Can Zerodha please put up some content about how to start a business? Getting the company incorporated, GST and all that stuff. Will be really helpful to a lot of budding entrepreneurs who are scrambling for content right now.
@vishvajitsonagara250
@vishvajitsonagara250 Жыл бұрын
Noted.
@chiragks
@chiragks 10 ай бұрын
Tw questions on using HUF money 1. Can HUF money be used by Karta, Coparner and members for international travel like international flight tickets. If Yes then how do we declare and/or claim for exemptions in tax as where the amount has been used? 2. Also can HUF money be used by child/member toward education pursued outside India(e.g. USA)? If Yes then how do we declare and/or claim for exemptions in tax as where the amount has been used?
@Quicko
@Quicko 9 ай бұрын
Hey, The HUF money can be used for international travel. The HUF can claim it as an expense if the the travel was made for business purposes. Moreover, no, you cannot claim the money used for your child's international studies as an expense.
@vipulsrivastava9176
@vipulsrivastava9176 6 ай бұрын
One key bit you mentioned- Contribute to the capital of the HUF? Now how will the members or Karta contribute to the capital of the HUF meaning is it a loan? is it a gift? Also under what head will the capital so contributed be shown by HUF when it's returns are filed. Also it would be very helpful if you could mention the sections of IT Act.
@lakshmi1994-d4t
@lakshmi1994-d4t 4 ай бұрын
Yes this is missing in all the videos on KZbin
@rapidducom
@rapidducom 4 ай бұрын
​@@lakshmi1994-d4tnot just on youtube but on practically every website on this topic. 🤦I don't know where the HUF will get working capital in the first place
@bimalnawalekha9884
@bimalnawalekha9884 4 ай бұрын
Assuming you and your spouse are salaried, then you can transfer a portion of your already taxed income to create corpus for HUF. That transfer doesn’t attract any tax as it is from Karta or member.
@deepakdarshan
@deepakdarshan 3 ай бұрын
@@bimalnawalekha9884 Does that mean I can transfer say 50% of my salary (~70,000 monthly) which I intend to save, so that HUF can invest it. What will be the Tax implications on me/huf if any?
@pruthvika.v182
@pruthvika.v182 10 ай бұрын
Thanks for the crisp video, plz can you make a video on HUF trading account, is it considered as corporate account or an individual account and its chrages and taxes.
@girishlodha7497
@girishlodha7497 9 ай бұрын
It's a individual account IMO
@dtsmilecare7112
@dtsmilecare7112 9 ай бұрын
Amazingly explained in the most simplest way possible. Could you please put up a similar video on partnership firm. Thank you
@Quicko
@Quicko 8 ай бұрын
Thanks for the suggestion. Stay tuned!
@RajaSumanReddy
@RajaSumanReddy 8 ай бұрын
What are the tax efficient ways to infuse capital into HUF?
@sathyanarayanagupta2884
@sathyanarayanagupta2884 3 ай бұрын
Very good speech against huf sir by gst and income tax auditor, Nellore,AP
@dr.kamleshsharma7120
@dr.kamleshsharma7120 11 ай бұрын
Plz explain how HUF can be formed in a family of mother and her two kids . Also, is the spouses of son and daughter have any share in the HUF property ? Plz explain
@zerodhaonline
@zerodhaonline 11 ай бұрын
Hi Kamlesh, you can post your question here: tradingqna.com/t/ask-me-anything-about-huf-and-its-taxation/158385
@sagarmaheshwari8430
@sagarmaheshwari8430 8 ай бұрын
:)🎉❤
@srikantkolluru3394
@srikantkolluru3394 9 ай бұрын
@vishvajitsonagara250 One doubt, if husband & wife are taking a joint loan and the house property is also co-owned, and they open a HUF so, do they still need to add the HUF as a co-borrower & co-owner to claim the interest & principal benefits through HUF?
@Nageshmokashe
@Nageshmokashe 9 ай бұрын
Yes , the HUF should be a co-owner of property and joint applicant for the home loan!
@Quicko
@Quicko 8 ай бұрын
Hi, Yes, the HUF needs to be a co-borrower in the home loan as well as a co-owner of the property to claim the deductions.
@royalphoenix3429
@royalphoenix3429 5 ай бұрын
Can anyone explain scenario 3, where we pool our income and transfer to huf! Do the gifter get tax benefits on the amount gifted?
@ashishgang
@ashishgang 5 ай бұрын
Clubbing provision will be applicable
@deependrayadav6331
@deependrayadav6331 11 ай бұрын
What are the applicable tax for HUF for NRI in foreign country under DTAA, is it same like individual or different ?
@vishnukantvishnukant3044
@vishnukantvishnukant3044 Жыл бұрын
Thanks a lot Kindly make part-2 for a scenario if both children are daughters and explain upto 4th Generation if applicable. Regards
@Quicko
@Quicko Жыл бұрын
Thanks for the suggestion, stay tuned!
@santoshkumarch4583
@santoshkumarch4583 Ай бұрын
​@Quicko can you please suggest which bank is highly preferred for an HUF account. How to bring capital to HUF account, where 2 private employees are working, with no other income sources. How to invest and where to invest for maximum wealth creation.
@mynkmitl7112
@mynkmitl7112 10 ай бұрын
Scenario 3 explained in managing finances needs correction as what am told by different CA firm's, if I(Karta) pools my salary income to HUF which generates interest on it. That interest income will be taxed under my name not HUF under clubbing provisions. Several notices have been sent by IT for this mistake as HUF are always on radar of ITO. Please confirm or correct.
@Quicko
@Quicko 9 ай бұрын
Hey, After the HUF is formed, the members can add money to it by transferring it as a gift. Since members are considered relatives of HUF, gifts from members are exempt in the hands of the HUF and the HUF can use this capital to generate income, and thus in our opinion clubbing will not be applicable here. You can also get a second opinion from a CA or lawyer for the same.
@mynkmitl7112
@mynkmitl7112 9 ай бұрын
@@QuickoYes, not just second opinion but multiple opinions and real case reference where notices were issued by ITO, I suggested to make that amend in video. Only way to avoid clubbing provision is to loan HUF rather than gifting but that also comes to radar of ITO if loan is not given at market rate and rather booked at 1 or 2% rate. So, again HUF if created should be treated as taken up flying arrow if purpose is tax evasion. Digital govt. is now 5 steps ahead than their countable tax payers which they cant afford evade from tax paying anymore.
@436guru
@436guru Ай бұрын
​@@mynkmitl7112imagine kartha running multiple businesses and under 30% tax slab currently, he forms a new huf with wife and children and starts any one or multiple business under HUF .... 1). Is this considered as a separate entity? 2). Will this HUF get any tax benefit ? 3). First of all is this right under the purview of income tax law ?
@kartikchoudhary1053
@kartikchoudhary1053 Ай бұрын
How to save tax in huf if salary got credited after tax deducted at source ?
@nirzheragar
@nirzheragar 7 ай бұрын
Hi If I am a salaried employ and has and family HUF account. Now if I transfer certain part of my salary into the HUF monthly which is cumulatively less than 2.5 lacs... does that part of my salary becomes non taxable during filing my ITR or it will be non taxable while filing ITR of HUF only??
@ramkmr003
@ramkmr003 4 ай бұрын
Your income will be taxed as it is, no changes there. The benefit is that you get to transfer your taxed income to the HUF account and any new earnings (say FD/Dmat/e.t.c) from that HUF amount will be taxed as a separate entity (new slab) and not part of your slab. So very useful in long term wealth generation
@yoganshunmugavel9771
@yoganshunmugavel9771 4 ай бұрын
Thank You for this helpful video. Is it possible to have property in individual name but declare the rental in HUF
@mukeshjain2015
@mukeshjain2015 11 ай бұрын
Please make vedio about utilisations of HUF income and about closer of HUF with I Tax implications. Regards
@somyajain3431
@somyajain3431 18 күн бұрын
Hey if i want to transfer the ownership of sole proprietorship to HUF, is it possible?
@rahulsarkar5809
@rahulsarkar5809 6 күн бұрын
Thanks a lots for everything sir ji....
@amitwali6844
@amitwali6844 4 ай бұрын
You mention about IPO, how can one apply for IPO with HUF demat considering that HUF savings account do not come debit cards and cannot have UPIm 9:55
@lakshmireddysurya36
@lakshmireddysurya36 4 ай бұрын
Through ABSA
@ajayrawat1875
@ajayrawat1875 Жыл бұрын
First of all Thank you for such crisp explanation My query is how HUF is beneficial for Trader falling under 30% Tax bracket, Family comprises of Husband,Wife and Minor Kid Thank You
@Quicko
@Quicko Жыл бұрын
You can open a demat account on your HUF's name and trade from the same in order to avail the 2.5L basic exemption limit. Moreover, it is likely that the HUF falls in a lower slab rate and thus you mayn't have to pay 30% tax on profits earned from trading through the HUF's demat account.
@ankurjain7838
@ankurjain7838 5 ай бұрын
2 questions sir 1) can huf take interest free loans from the friends of karta?? 2) whether the gift received from mother or father of karta (beyond 50k) will b taxable??
@ankithere
@ankithere 4 ай бұрын
Can we get a GST number for HUF and can we get ITC for capital goods purchase via HUF ?
@Bparadkar
@Bparadkar 4 ай бұрын
@zerodha - Can I transfer money to HUF Bank account and later HUF can make Fixed deposit on it? Question 1 : This interest income from Fixed deposits, wo will have to pay tax on it - me or HUF? Question 2 : Can i transfer money from HUF Bank account to my account , Is there limit on the amount of transfer? will it be taxable in my hands?
@Kaushik-q1b
@Kaushik-q1b Жыл бұрын
Could you please answer if a single mother with 2 kids could form a HUF and be the Karta?
@hardikgondalia7064
@hardikgondalia7064 Жыл бұрын
How to transfer my existing HUF demat from other broker to Zerodha?
@MrDrdrdrdrdr
@MrDrdrdrdrdr 4 ай бұрын
How business income is generated in huf and how much expenses we can claim from this income apart from basic 2.5 lakh deduction and 80c and 80d deduction
@ShubhamAtkare
@ShubhamAtkare 9 ай бұрын
Great explanation. Thanks. It might be a silly question, but here it goes, if a husband and wife supposedly transfer a capital of 4 lakhs combined to the HUF, it would be non-taxable granted 1.5 lakhs is invested. But, the 4 lakhs earned by the husband and wife has already been taxed, isn't it? Or is there a way to claim money transferred to HUF as an exemption?
@Nageshmokashe
@Nageshmokashe 9 ай бұрын
This question is like, you have already paid tax to government by TCS - Tax deducted at source when you receive salary. Now, you invest your money and make some capital gain, You STILL have to pay tax on that capital gain.
@parv0104
@parv0104 9 ай бұрын
Hi Dear, I have few questions here - 1. Forming a new HUF has 0 funds with it. Suppose I (member) transfer funds to HUF as gift and start investing. Earned STCG. Will this STCG not clubbed with my personal income ? 2. Can I (member) transfer to HUF interest-free loan ? If so, what are the requirements to show to IT Department if ever asked ?
@Quicko
@Quicko 9 ай бұрын
Hey, With regard to your queries, 1. In this case, the amount will be considered as the HUF's capital and clubbing will not be applicable. 2. We do not recommend giving interest-free loan. You can charge a minimum interest as prescribed by the RBI.
@parv0104
@parv0104 9 ай бұрын
@Quicko Okay. Do I need to get a Gift deed here too ? Also, when can i withdraw these funds ?
@veers8002
@veers8002 2 ай бұрын
Sir - Can karta (Mr Sharma) add his super-senior citizen father in HUF ?
@PanchananMohanty-fn8sl
@PanchananMohanty-fn8sl 9 ай бұрын
A nice video on HUF indeed with clarity. However I would like to know if my son's wife can be considered as a member of the HUF from the beginning itself ?
@rajeshjain3804
@rajeshjain3804 4 ай бұрын
HUF ke liye benefits old regime me hai ya new regime me. Slab rate kya hai , 87 A ki rebate milti hai kya Isme 80C ki deductions milti hai. Meri mainly interest se income hai.
@Tirupatinaidus
@Tirupatinaidus 4 ай бұрын
Hi. How to infuse / create capital in HUF. Please explain
@910kunal
@910kunal Жыл бұрын
Superb video. Just one question - what is the way to build capital in huf. One of the example given is transferring salary to huf, is this loan or gift? Can clubbing provisions be applied on transfer and consequent income earned on such amount.
@Quicko
@Quicko Жыл бұрын
One of the many ways to build capital for HUFs is by receiving capital from its members in the form of gifts. Further, the HUF can invest in shares and earn rental incomes to generate wealth. About clubbing, if personal assets of HUF's members are transferred to the HUF without any adequate consideration, then any income from such asset will be clubbed in the hands of member.
@mehtagautam1
@mehtagautam1 9 ай бұрын
@@Quicko adequate consideration like? Also you mentioned in the video about pooling of money- is it also clubbed to contributors? You mentioned about gift from Husband & Wife - income from any assets is also clubbed? I don’t see any benefits if everything is clubbed.
@manishzope416
@manishzope416 5 ай бұрын
What if Mr Sharma needs money badly? Can he transfer to his banking account from his huf account? Does this require any kind of documentation? If huf gets ipo allotment, how to sell those? Any documentation while selling the shares from huf demat?
@satishkumartiwari8908
@satishkumartiwari8908 11 ай бұрын
Can we use the same mobile no. Of Karta while opening HUF....
@Quicko
@Quicko 10 ай бұрын
Yes, you can.
@dcdiaries8954
@dcdiaries8954 5 ай бұрын
Hi, I am salaried employee who owns a property and I receive a rental income from that property . Now I am planning to have HUF account and transfer my property to HUF account to manage the tax that comes from the rental income of that property. Please let me know the tax implications on it. 1. What would be the procedure to transfer personal property to HUF account 2. Will I have to still continue to be taxed on the rental income post the transfer of the property to HUF ?
@prashantcfz
@prashantcfz 4 ай бұрын
Can I rent my individual owned shop to huf were I am karata or member. Will that rent be considered as my income and my huf expenses.
@vikassingh-ku8vp
@vikassingh-ku8vp 9 ай бұрын
When and how can we withdraw money from the returns made using HUF account?
@milindsalunkhe6869
@milindsalunkhe6869 3 ай бұрын
How huf is benefit for both husband n wife doing government job n salary is only taxable income
@rameshd8503
@rameshd8503 4 ай бұрын
If we have only 2 members (myself and my wife) and my only daughter got married about 5 years back, can we (myself and my wife) join together to set up HUF?
@monishachandrawanshi3422
@monishachandrawanshi3422 4 ай бұрын
+1
@malaymj1
@malaymj1 4 ай бұрын
Can karta pay house rent to its HUF and claim HRA if he is salaried? Also, how can HUF get bank home loan.
@GaneshSatputeAtPlus
@GaneshSatputeAtPlus 9 ай бұрын
If members transfer their own money to an HUF account then AFAIK the tax will be in the hands of members, not HUF. So I think we cannot save taxes this way. Please enlighten if I missed anything.
@hiteshughreja
@hiteshughreja 9 ай бұрын
The income will be of HUF and not members. I hoe it is clear. It is as simple as, tou transfer money to your kid who is adult, so legally you can gift money and the income generated from that money will be taxed in hands of kid.
@Quicko
@Quicko 9 ай бұрын
After the HUF is formed, the members can add money to it by transferring it as a gift. Since members are considered relatives of HUF, gifts from members are exempt in the hands of the HUF and the HUF can use this capital to generate income, and thus in our opinion clubbing will not be applicable here. You can also take a second opinion from a CA or lawyer for the same.
@GaneshSatputeAtPlus
@GaneshSatputeAtPlus 9 ай бұрын
@@hiteshughreja Thanks for the reply.
@praveenpandey9655
@praveenpandey9655 4 ай бұрын
How to open a Demat account of the date of incorporation is less than 18 years?
@hemantjain2788
@hemantjain2788 9 ай бұрын
Hi Vishwajit can I request if you can please elaborate on scenario 3 of your video please
@harshhablchandani3212
@harshhablchandani3212 3 ай бұрын
Sir how to transfer money in huf bank account cash or salary bank transfer
7 ай бұрын
What exactly do you mean when you state" Coparcener can even ask for partition of HUF?
@ranban282
@ranban282 2 ай бұрын
A basic question - if a couple without child forms a HUF, is it taxed separately?
@rajhydro
@rajhydro 3 ай бұрын
How to transfer the property in HUF ACCOUNT. ?
@microsoftmath
@microsoftmath 3 ай бұрын
what if i Trade FNO in HUF account..what benefit should I get
@ankit28
@ankit28 4 ай бұрын
Can coparcener give money to huf to invest in stocks mutual funds?
@priyamsingh5023
@priyamsingh5023 2 ай бұрын
At the start of video u told that daughter can get share in property in 2 huf (his father's and his husband) but later on u told that daughter in law wouldn't get share in huf.please clarify.
@SriNikethan_The_Hunter
@SriNikethan_The_Hunter Жыл бұрын
Quick and common query Let us assume my taxable income is 3 lakh and i am in old regime. So upto 2.5L no tax for the remaining 50k i need to pay 5% tax (2500) If i transfer that 50k to my HUF account i dont need to pay any tax? Can i save that 2500? Can i withdraw that 50k from HUF immediately and use it.
@Quicko
@Quicko Жыл бұрын
No, if you transfer any amount to the HUF it will be treated as a gift. Hence, the HUF will not be liable to pay taxes on the amount that you transfer, however, your taxable income remains the same, i.e. ₹3 Lakhs.
@MrDrdrdrdrdr
@MrDrdrdrdrdr 4 ай бұрын
Post tax money u can contribute
@aakashshelar9619
@aakashshelar9619 5 ай бұрын
What about the "Will", how does it govern the HUF and it's implications?
@kamalchakraborti1353
@kamalchakraborti1353 Жыл бұрын
how do i create a huf & transfer legally some of our money into it? me n my wife are both salaried & want huf account specifically for trading/investing
@kc3319
@kc3319 Жыл бұрын
Extra Demate account include some tax for single person
@Quicko
@Quicko Жыл бұрын
Hey, below is the process of forming an HUF in India: Step 1: Create an HUF deed. It is a written formal document on a stamp paper stating the names of Karta and other members of the family. Step 2: Apply for PAN Step 3: Open Bank Account Once you have opened a bank account on the HUF's name, you can transfer money in the same from your personal bank account. We hope this helps! We advise you to contact a lawyer for further details.
@maulikdholakia6403
@maulikdholakia6403 Жыл бұрын
Transfer of fund will be loan or considered as gift or additional income. If I am holding 50lakh equity shares and I am transferring the same to my huf . Who will have tax benefit. If HUf earning 5lakh profit by selling LTCG how much tax to pay
@rajparmar2930
@rajparmar2930 11 ай бұрын
I want to open a d mate account what is the process for it
@maulikdholakia6403
@maulikdholakia6403 Жыл бұрын
If I have HUF and property in name of me, wife and HUf. If I am paying 6lakh interest and 3 lakh principal. Can we all claim 2lakh for interest benefit for each member and 1 lakh as principal benefit for all three members. Please guide
@Quicko
@Quicko Жыл бұрын
Hey, deduction on home loan interest and principal can be claimed by the one who is repaying the loan, i.e. co borrowers of the loan. So, if your wife and HUF are also co-borrowers in the loan, they can claim deduction on the repayments.
@rameshm7411
@rameshm7411 5 ай бұрын
Great explanation, can karta transfer monthly savings from salary to huf account
@RajaSumanReddy
@RajaSumanReddy 8 ай бұрын
What are the impacts of clubbing provisions on funding the HUF from karta's post-tax salary income?
@shalabh99
@shalabh99 Жыл бұрын
Can you explain the interest income part in detail.
@Quicko
@Quicko Жыл бұрын
If both husband and wife are working and their incomes fall in higher slabs, the interest received from savings account will also be taxed at a higher rate. Instead, if they transfer this amount to HUF's account, the interest will be treated as HUF's income and hence, the basic exemption of ₹2.5 lakhs will be applicable.
@gauravvgat
@gauravvgat 9 ай бұрын
This seems wrong. What I have read is that The interest earned on money given to huf is clubbed under the income of the member. Please confirm.
@justuploadit1106
@justuploadit1106 10 ай бұрын
Neat and Crisp. Thanks.
@siddharthagandhi1981
@siddharthagandhi1981 5 ай бұрын
How does agricultural income get processed in HUF.
@hiteshughreja
@hiteshughreja 9 ай бұрын
Example, I buy a car on HUF name, can I show service cost, fuel etc as expenses and get deductions?
@Quicko
@Quicko 9 ай бұрын
Hey, If you buy a car on HUF's name and the same is used for the business run by the HUF, you can claim depreciation and the running expenses like service cost, fuel etc. for the car.
@abhisheksarda5341
@abhisheksarda5341 4 ай бұрын
What if only single person earns in the HUF, and HUF doesn't own on its own. Is HUF useful?
@ChennaiEcoMotors
@ChennaiEcoMotors Жыл бұрын
Nice content. Good to know about tax benefits of forming HUF. What about expenses made using HUF? Can it be deducted from overall income while filling IT return
@Quicko
@Quicko Жыл бұрын
Yes, if the HUF is running a business, it can claim all expenses related to the business including the salary paid to its members and other staff.
@jayceejaycee1430
@jayceejaycee1430 6 ай бұрын
Can a fuel station be run on HUF and how it’s going to benefit regards and thanks
@Sid-uy7tx
@Sid-uy7tx 4 ай бұрын
How Do I open HuF if I am a overseas citizen of india but my parents are Indian citizen .
@amitdegaonkar3665
@amitdegaonkar3665 Жыл бұрын
What is the process of dissolving the HUF?
@Quicko
@Quicko Жыл бұрын
HUF can be dissolved by executing a full partition deed among all the members. The HUF will have to make an application or claim of partition before the Income Tax Assessing Officer (AO). Once the AO accepts the claim of partition, the HUF can be closed and PAN of HUF should be surrendered to AO.
@Saurabhnigam020380
@Saurabhnigam020380 Жыл бұрын
Do the children of karta automatically become a coparcener in the HUF or can Karta decide at the time of formation of HUF whom does he want to include in HUF and whom he wants to exclude?
@Quicko
@Quicko Жыл бұрын
Yes, the children become a coparcener in the HUF by birth.
@prasannas611
@prasannas611 4 ай бұрын
Also daughters can be coparcener or member depend on affidavit during creation of huf next eldest member is not karta any of the coparcener can become karta if other coparceners approved
@prinkush
@prinkush 7 ай бұрын
I've a basic question, how and where to register an HUF to bring it to existence
@AanyaandAnvishow-cg7vm
@AanyaandAnvishow-cg7vm 4 ай бұрын
what about tax implication at the time of partition?
@rcs5085
@rcs5085 4 ай бұрын
How to dissolve and exit a HUF and what’s the tax implications
@arulk9373
@arulk9373 Жыл бұрын
Are they any high value benefits for having HUF ? (say for ones who are dealing in multiple crores) ? not that i have, but for informative purposes
@Quicko
@Quicko Жыл бұрын
One example of high value transactions where HUF can be helpful is availing tax exemption on long term capital gains from the sale of stocks, mutual funds, real estate, etc. under sections 54 and 54F.
@pranayshrivastava2418
@pranayshrivastava2418 Жыл бұрын
Can I give authority to HUF to collect rent on my property by a power of attorney?
@NitinWahiSir
@NitinWahiSir 10 ай бұрын
No U will have to transfer the Power of attorney to Family HUF
@drrsagraval1974
@drrsagraval1974 9 ай бұрын
Can members and karta contribute to HUF to increase balance of huf?
@Quicko
@Quicko 9 ай бұрын
Hey, Yes the members can contribute money to the HUF by transferring it as a gift. Gifts received from members are exempt in the hands of HUF.
@manojjaindr
@manojjaindr Ай бұрын
Great Content
@BhavyaDoshi
@BhavyaDoshi 4 ай бұрын
Can i create a separate HUF account after marriage and having kids if my dad has one already?
@TheViralSneeze
@TheViralSneeze Жыл бұрын
Is there any HUF equivalent stuff for Abrahamic religions in India?
@gs-qi9qr
@gs-qi9qr Жыл бұрын
adhar card pr address chang karwaaya h so zerodha me address kaise upadte kare
@ndtechnology2377
@ndtechnology2377 Жыл бұрын
How to open a HUF DEMAT ACCOUNT IN ZERODHA?
@zerodhaonline
@zerodhaonline Жыл бұрын
Hi, we've explained the process here: support.zerodha.com/category/account-opening/company-partnership-and-huf-account-opening/huf/articles/what-are-the-documents-required-to-open-a-huf-account-at-zerodha
@malavshelat
@malavshelat 9 ай бұрын
You explained how to put money and assets into HUF. But how a karta or coparcener or any member can use that money that have been received from various sources like rental income, interest income, gifts, stock trading, etc.? for any kind of expenses?
@prachichhajer
@prachichhajer 8 ай бұрын
I have an HUF account in SBI , want to open Demat account with zerodha. How do I do that ?
@zerodhaonline
@zerodhaonline 8 ай бұрын
Hi, we've explained the HUF account opening process here: support.zerodha.com/category/account-opening/company-partnership-and-huf-account-opening/huf?language=english Once the account is opened, you can transfer the chares by following the steps given here: support.zerodha.com/category/your-zerodha-account/transfer-of-shares-and-conversion-of-shares/transfer-securities/articles/how-do-i-transfer-shares-from-another-demat-account-to-my-zerodha-demat
@Pintoo312
@Pintoo312 4 ай бұрын
Can son create another huf in his name? Even though his father has existing huf?
@govindluhar9524
@govindluhar9524 10 ай бұрын
Kindly guide for below situation Mr sharma is married and having 3 children . Child 1 Major, child 2 minor , child 3 minor. Mr sharma expired . After the death of mr sharma can MRS sharma forms HUF???
@Quicko
@Quicko 9 ай бұрын
Hey, Even after Mr. Sharma's demise, the HUF will continue to exist.
@ibadat21
@ibadat21 Жыл бұрын
Please explain PPF part in detail. Suppose I have my individual PPF account in my name. I invested 1.5 Lakh in ppf. Can I claim deduction from my HUF account?
@Quicko
@Quicko Жыл бұрын
If you have made the investment in PPF from your account, you will be eligible to claim the 80C deduction of ₹1.5 lakhs. Moreover, if the investment was made towards any of the members' PPF account from the HUF's account, then yes, 80c deduction can be claimed while filing the ITR for HUF as well.
@AnkitAggarwal-jt8tq
@AnkitAggarwal-jt8tq Жыл бұрын
Is it mandatory to have children to take tax benefit? A lot of places it's mentioned that the tax benefits can only be availed after the first child only. Before that the clubbing provision will come into picture and whatever interest or income gets generated by huf's account will be taxed to the karta of huf.
@Quicko
@Quicko Жыл бұрын
No, it is not mandatory to have a child to form an HUF and enjoy tax benefits. However, it is possible that clubbing provision may come into picture in some cases and we suggest you to consult an expert while planning taxes using HUF.
@BoringRide
@BoringRide Жыл бұрын
@@Quicko your not answering to his question correctly
@hiteshughreja
@hiteshughreja 9 ай бұрын
It is a bit not clear. As HUF is formed and PAN is allotted only after kid is born.
@daywalker3636
@daywalker3636 9 ай бұрын
Just an important note for everyone: You can create a new HUF after getting married, but it won't be considered as a seperate entity until your first child is born. So, unless you have a baby, HUF is useless. I wish Zerodha would give this important detail.
@srikantkolluru3394
@srikantkolluru3394 9 ай бұрын
This is not true a husband and wife can open a HUF the law has not specified any thing like this. Kindly watch labour law advisor youtube channel video on the same topic. They have mentioned this point
@drbabulbansal
@drbabulbansal 4 ай бұрын
A Central Government Employee cannot own or run a business as per CCS rules. My question is…. Can the HUF (karta of whose is a Central Govt. Employee) run a business and not violate the CCS rules?
@bharatbhushansingh7492
@bharatbhushansingh7492 Жыл бұрын
Can professional fee earned by member be taken in HUF account?
@Quicko
@Quicko Жыл бұрын
An HUF cannot earn salary or professional income. Hence, personal income of the members in the form of salaries or professional fees cannot be treated as income of the HUF.
@JAYANT_VIG
@JAYANT_VIG 11 ай бұрын
Im karta can i transfer 10l directly to huf savings account?
@Quicko
@Quicko 10 ай бұрын
Yes, you can transfer the money as gift.
@apoorvg1
@apoorvg1 4 ай бұрын
Why is it so painful to open a demat account of HUF with zerodha?
@zerodhaonline
@zerodhaonline 4 ай бұрын
Hi Apoorv, we're sorry to hear this. Could you please provide us with your ticket number? We'll have someone from our team reach out to you.
@investwithumang
@investwithumang 11 ай бұрын
I have huf pan and tried to open ac in zerodha but it is not opening how to open demat of huf in zerodha
@umakantjante5245
@umakantjante5245 8 ай бұрын
Physics document required for account opening
@shaileshsalve5625
@shaileshsalve5625 Жыл бұрын
What'll happen incase demise of member,does his/her spouse becomes co-parcener?
@Quicko
@Quicko Жыл бұрын
No, the spouse doesn't become a coparcener in the HUF after their partner's demise.
@manojpatilsurg
@manojpatilsurg 6 ай бұрын
Really Informative video. Kindly guide us about a procedure to open Demat account in Zerodha...
@ashishu4094
@ashishu4094 9 ай бұрын
How to open huf account on zerodha?
@zerodhaonline
@zerodhaonline 9 ай бұрын
Hi Ashish, we've explained the HUF account opening process here: support.zerodha.com/category/account-opening/company-partnership-and-huf-account-opening/huf/articles/what-are-the-documents-required-to-open-a-huf-account-at-zerodha
@vineetunny6719
@vineetunny6719 Жыл бұрын
What is process of creating huf
@Quicko
@Quicko Жыл бұрын
Hey, this is the process of forming an HUF in India: Step 1: Create an HUF deed. It is a written formal document on a stamp paper stating the names of Karta and other members of the family. Step 2: Apply for PAN Step 3: Open Bank Account We hope this helps! We advise you to contact a lawyer for further details.
@roshnirao5688
@roshnirao5688 Жыл бұрын
Your auditor will be able to help you with this…
@kamaljanardhanblr
@kamaljanardhanblr Жыл бұрын
If I'm right HUF can be formed in 3 ways, the first way = from ancestral property/money (proof needed), the second way = relenquish your right in your indivudal property/money for the formation of HUF (documentation required), the third way = a third party giving you a gift along a gift deed which mentions the gift is specifically for the welfare and benefit of all the members of the family (Gift deed and documentation required). Thus in the above 3 ways you can create your HUF nucleus and HUF File. I AM NOT QUALIFIED AS A LAWYER BUT THE ABOVE INFO SHOULD BE CHECKED WITH A QUALIFIED LAWYER.
@rajnagar1646
@rajnagar1646 9 ай бұрын
Can I take some part of my salary in huf acccount??
@AnuragSrivastavaIITR
@AnuragSrivastavaIITR 7 ай бұрын
Huf is not working..how it can take salary. Only investment income it can make.
@vmajeti
@vmajeti 10 ай бұрын
Can HUF can be used by NRI as well...in my case all are NRI... Please let me know
@arulk9373
@arulk9373 Жыл бұрын
Could you expand on the tax exemption on LTCG on sale of stocks for HUF. Let’s say if LTCG is 1 Crore. How much is exempted for HUF with 5 members ?
@Quicko
@Quicko Жыл бұрын
The amount of exemption is ₹1 lakh if the LTCG were in the name of HUF, i.e., HUF's demat. The members of the HUF can claim an exemption of ₹1 lakh each if they have long term gains in their individual demat account.
@arulk9373
@arulk9373 Жыл бұрын
@@Quicko Essentially, HUF is just another logical identify one could create, with similar tax rebates as Individuals. So, one can save Tax a little to the tune of bringing down Taxable income by couple of Lakhs. it won't have a much impact for those who deal profits in 50 Lakhs, 1 Cr or more. is that right ? Thank you.
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