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SqueakyQuokka
SqueakyQuokka
Microsoft

HUF for saving taxes?

Has anyone tried using HUF for saving taxes on investments? Could you share your experience and how else has it been useful to you?

18mo ago
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CosmicLlama
CosmicLlama
Freelancer18mo

HUF is pre 1990 strategy. OPC /LLP/trusts is the best vehicle today For tax saving and asset building

SqueakyBoba
SqueakyBoba
Rakuten18mo

Can you explain more ???

CosmicLlama
CosmicLlama
Freelancer18mo

huF can helped when investments/savings were not taxed. This has changed now. If you move your money to HuF and earning out of that would still be taxed. You can make your savings thru 80c , and other standard items but that would be peanuts if you are in the 30% bracket.
Only way to save tax is by first spending and then paying your tax. The only way to do that is thru company - OPC,/LLP/ TRUSTS. Catch is you will be under more scrutiny by authorities and your CA will take you for a ride if you are not educated on the things.

JazzyNarwhal
JazzyNarwhal
Stealth18mo

Bjp will form next govt also and they will retire old tax regime and move everyone to new regime. It is obvious. So don't waste money and energy on tips and tricks.

SqueakyQuokka
SqueakyQuokka
Microsoft18mo

Unless they retire HUF itself, you will be benefitted by it in the new tax regime too.

SillyBanana
SillyBanana
Stealth18mo

Yes just ask your Auditor about it, I have a tech trading company under HUF , good benefits though ..

SqueakyQuokka
SqueakyQuokka
Microsoft18mo

What's a tech trading company?

SillyBanana
SillyBanana
Stealth18mo

It's something like stock trading only but for B2B customers in the commodity market and shipping industry.

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Ask Grapeviners
Ask Grapeviners6mo
by QuirkyRaccoonBarclays

Need some Tax Saving tricks

Hi Guys,

I wonder how people save maximum tax. I don't see any options for me to do the same. Can anybody give me some tips or tricks to save some Tax? My goal is to save maximum, and the Saving should be ready to use in a need(in case ...