How You Can Save Taxes By Forming A Hindu Undivided Family | Full Process Explained | Moneynomics

[@sreedaranramakrishnan5811]

HUF is very good. I have it more than 10 years. Your corpus to HUF should be tax paid money

[@vaibhavneo]

@@sreedaranramakrishnan5811 do you get taxed on earned interest as combined income or separate entity?

[@maheshisurs]

May i know how you added funds to HUF account? to my knowledge if add it thorough Karta's saving account, any gains arising out of investment gets club to Kartas income? also is it possible to get section 80 c deductions if we invest through HUF under ELSS and paid Karta's life and health insurance premiums through HUF account?

[@PRO2358]

I love this kind of informative unique videos

[@gourishankar445]

How can salaried individuals without any business, transfer some of the salary to HUF for investment in HUF's name on yearly basis?

[@neilborate]

Very difficult. It will attract clubbing on income. You can do some freelance work on the side (side gig) through an HUF

[@gourishankar445]

@neilborate thanks for the reply. Can tuition or commission income etc be the income source for HUF? If not, what generic side gigs can be helpful?

[@neilborate]

@gourishankar445 Any side gig. So tuition or commission income is fine.

[@maheshisurs]

@@neilborate to my knowledge individual income even if it is through free lancing is not consider as HUF income, it will attract tax, HUF income can be a business income like restaurant , rental income etc.

[@neilborate]

@maheshisurs Consulting is a business no? As in if the HUF operates as a consultancy with multiple freelance consultants under it? But yes, if there's some ITAT decision on this, it may not be allowed. Best to check with an experienced CA on what is permissible

[@karthigeyan143]

We need 2 to 3 video on this bro, information provided is very basic, which we can find in internet, add some more value by giving more rare information bro

[@neilborate]

What more do you want to know?

[@karthigeyan143]

​​@@neilborateHow to capitalize the huf legally using gift from relative & non relative, loan to huf, and problem raise from splitting of huf with income tax section code. Add some interesting court case for reference of does and don't in huf

[@neilborate]

@karthigeyan143 hmm. Ok. We are doing a follow up article on HUF FAQs. I'll post a link once it's published

[@naranderkumar9754]

Member can also contribute, capital contribution.

[@friendeleven5711]

My mother used to tell me. At least government has done something for Hindus.

[@IsaacDorothy]

Great analysis, thank you! A bit off-topic, but I wanted to ask: My OKX wallet holds some USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). How can I transfer them to Binance?

[@drrakshitgupta]

Yes Sir please do make a video on procedure

[@MrRahulBiswas]

There's no option left for content creators anymore because they are done speaking against this tax terrorism. Maybe in the next year we'll even witness videos where creators will create videos to circumvent taxes by illegitimate means.

[@srm8768]

what about professional income...can HUF take part of my salary to reduce tax liability

[@neilborate]

Salary, no, very hard to split or transfer that. Any freelance work or side business, yes

[@sidharthpradhan7602]

Can my mother's gift in marriage be shown as initial capital in my HUF?

[@vaibhavneo]

What is the issue with transferring own income/funds , earned post tax, to HUF. Shouldn't the interest be tax free?

[@neilborate]

Income tax department will club your income with HUF and treat both as one entity.

[@vaibhavneo]

@neilborate is this documented? Would really help if you could share some link. Also what if interest income is generated from principal through freelancing/ other income source. How are these distinguished ? I would also like to correct that you can open huf without child.

[@neilborate]

@vaibhavneo On 1), you can cross check with any CA. Some people take a risk that they may not detect it & do it but that's not a safe approach. We write articles only after professional inputs from CAs. On 2) if the HUF is doing freelancing or side business & saving money & earning interest on it. That's legit. But not you transferring the interest from your savings. On 3) look it's a debated point as I mentioned in the video because a wife is not a coparenecer. Again, some people set up HUFs with just husband & wife. But will it stand legal scrutiny if it ever goes to court? Better to be safe, no?

[@vaibhavneo]

@@neilborate Interesting. Thanks for the detailed answer. Weird that Protean would allow huf for husband and wife and still subject to scrutiny. Shouldn't really assign a PAN if not legal.

[@Siddharth-wg7kv]

Please make a detailed explanation video on HUF sitaraman aunty se bhagwan bachaye

[@indersinha4029]

If UCC is implemented by the govt, will huf be abolished. Pls clarify.

[@thethinkerofficial001]

Yes😂😂

[@noorulameen7478]

If that was aimed to muslims,then yes it will be abolished but HUF not related to muslims,then what is the need to talk with respect to UCC

[@neilborate]

Hard to say. It will be politically difficult to abolish though

[@aswinsm3966]

Bank officer can open a HUF account

[@Philosoper007]

Simple. Leave india and settle in gulf 😂😂😂

[@tsp7234]

Can HUF recieve commission income?

[@neilborate]

Yes

[@rajeev3340]

Doesn’t this discriminate against other religions? Or are there similar ways people from other religions can do it?

[@garyish]

It’s because undivided/joint family is a hindu/dharmic tradition.. now we can eliminate all special laws for minorities also and implement uniform civil code (UCC) if you are suggesting that

[@poohthegreatslayer]

Hindu undivided family consists Hindus, jain, Sikhs and Buddhists.

[@Iamreal11xingping]

India was partitioned based on religious discrimination and became secular during emergency... irony keeps on coming and so is your question. So to answer the rhetoric HUF works for people with money and a little more money, you can form a trust But there is no equivalent of reservation which is for Muslims as well but limited at few states and capped. else Abrahamic funding can be beneficial till you want conversion incentive. waqf can claim your land

[@mithunmahato309]

India's judiciary, law is a joke. Pure hypocrisy. Then comes the efficient and well planned unaccountability on part of the law enforcing agencies such as lawyer, judges, police, government officials. This leads to random corruption.

[@akm2883]

Even if this discriminates against other religions why are you bothered they have their safe side always. They are more privileged they even take the donations made to temples though political parties. Why on earth should they have this privilege?😅 We are paying taxes and donating money for our god.

[@girishpotti2242]

You should make the video in detail.. this video wasn't that useful

[@BalancedBodyVibes]

Stll living in the prehistoric times 😂

[@INDIPENDANS]

This two guys are cheating from people. example me

[@parthapratimghose173]

atul subhash banne ki ninja technique