Tax planning through huf – Ascent Financial Solutions https://www.ascentsolutions.in Ascent Financial Solutions Pvt. Ltd. is a professionally run, SEBI registered investment advisory firm established with a single-minded objective of providing Wed, 30 Jul 2025 11:44:04 +0000 en-US hourly 1 https://wordpress.org/?v=7.0 https://www.ascentsolutions.in/wp-content/uploads/2023/02/Favicon_Ascent-100x98.png Tax planning through huf – Ascent Financial Solutions https://www.ascentsolutions.in 32 32 HUF – Part-2 How to Reduce your Tax Liability using HUF? https://www.ascentsolutions.in/huf-part-2-how-to-reduce-your-tax-liability-using-huf/ https://www.ascentsolutions.in/huf-part-2-how-to-reduce-your-tax-liability-using-huf/#respond Fri, 19 Jun 2015 02:53:40 +0000 http://ascentsolutions.in/wordpress/?p=1308

In my last article we had discussed “What is HUF & How to create HUF?” In this article we will be discussing How to reduce your Tax Liability using HUF as a separate entity in the eyes of Income Tax Act.

♦ Separate Legal entity:  HUF is a separate legal entity in the eyes of Income Tax Act. So for HUF separate Income Tax return has to be filled like we file in case of individual. Basic exemption limit for HUF are same as Individual so it works like a separate file. HUF also enjoys all the deductions and exemptions like Individual. One can make investment in different avenues and get benefits of Sec 80 C. 

(more…)]]> https://www.ascentsolutions.in/huf-part-2-how-to-reduce-your-tax-liability-using-huf/feed/ 0 Tax Planning Through HUF- Part -1 https://www.ascentsolutions.in/tax-planning-through-huf/ https://www.ascentsolutions.in/tax-planning-through-huf/#respond Thu, 04 Jun 2015 16:56:12 +0000 http://ascentsolutions.in/wordpress/?p=1264

Part 1- What is HUF & How to create HUF?

Tax Planning is a part of overall Financial Planning and HUF is a good way of planning and reducing your tax liabilities. But Many times I have seen people are confused about formation and functioning of Hindu Undivided Family (HUF) and as a result are not able to take the benefit of HUF as a separate entity and save their taxes.  So this article is an effort to clarify the basics of HUF in the eyes of Income Tax and how to utilize HUF as a Tax Planning tool.

(more…)]]> https://www.ascentsolutions.in/tax-planning-through-huf/feed/ 0