POSTED BY February 19, 2013 12:56 pm COMMENTS (3)ON
We are a family of 5 members. My parents are working. My wife and unmarried sister are not working. I am planning to open two HUF account, one on my father’s name and the other one on my name as a Karta. The situation is that, my mother need to save around 15000 towards her Income Tax, which will otherwise be deduced. Can she gift this much amount to my HUF and save the amount from being taxable? Kindly suggest me.