Currency demonetization, suddenly this word hits us on the evening of 8th of November, 2016 and we all were shocked with the demonetization measure of Prime Minister Shri Narendra Modi. This article is an effort to understand What Currency demonetization is actually and what will be its Short term & long term Economic implications. To …
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In my first article on HUF & Tax Planning which was published on 4th June, 2015 I had discussed ” What is HUF? & How to create HUF?“ and in my second article on HUF & Tax Planning which was published on 19th June, 2015 I had discussed “How to reduce Tax Liability using HUF?“. …
Continue reading ‘HUF-Part-3 Legal Aspects & Disadvantages of HUF’ »
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 …
Continue reading ‘HUF – Part-2 How to Reduce your Tax Liability using HUF?’ »
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 …
Paying taxes from hard earned money is always a painful task. So every taxpayer tries to reduce his tax liability and there are three ways to reduce tax liability which are as under. 1.Tax Planning. 2.Tax Avoidance. 3.Tax Evasion. Normally there is confusion between tax planning, tax avoidance and tax …
Continue reading ‘“Tax Planning, Tax Avoidance and Tax Evasion”-What is the difference?’ »