This is the advantage enjoyed by the business family in north India to evade tax and cheat goverment.Most of the BJP RSS leaders who want common civil code enjoys the status HUF which is not enjoyed by other minorities.Even the the Jains who says who are not a Part of Hindu religion,when coming to the subject of Tax deduction enjoys the status of HUF.
RE:Common Civil code and HUF
by Nash on Jul 10, 2008 10:03 AM Permalink
Hey u con vert what abt the money, rice bag and free education that u get from the ch urch? do u ever pay tax?
They earn it & plan wisely and NOT beg like you selling urself
RE:Common Civil code and HUF
by DD on Jul 10, 2008 10:19 AM Permalink
Please tell us the name and address of whichever institutions do so. Maybe they can run the country and provide everyone the benefits and we could do away with reservations, pseudo secularism and pseudo hindutva.
RE:Absolutely stupid!!!
by g n on Jul 10, 2008 10:19 AM Permalink
Yeah .. total rubbish..! the Author explains with the beauty is..." like he has discovered something new! lol God bless ur clients, if u are handling their money..!
RE:Absolutely stupid!!!
by kaushik selvam on Jul 10, 2008 10:47 AM Permalink
Boss, u can thin over. even a college student can own a property and he can receive rental income. a student can have bank deposit or investments and they can get some income. this article is for you to get an idea of how things can be planned. if you cant think. dont bleam Rediff.com..
RE:Absolutely stupid!!!
by chhatra bahadur chhetri on Jul 10, 2008 10:22 AM Permalink
i am also of the same opinion...can u please tell me how is that u have devided 13.5 lakh amongst all family members..when the case shows that the son and daughter are school student..then how is this devided....amongst each other... can u pls tell ussssssssssssssssssssssssssssssss
Hi friends, I confirmed this from my CA and as per him the Gift is tax free only for the receiver.
But it will come to Mr.ZeroTaxWala after TDS. So this person is misguiding the other people. Otherwise most of the people will come under zero tax category.
this is a sheer stupid tax planning & is done by almost every business family, what's new in it, why do one need expert like Mr. RN LAKHOTIA for this, it can be done by ordinary tax practioner, if one really want to show his skills show the same for salried individuals & consider it as income of 2 persons instead of one person
One salaried person have to pay advance taxes per his salary, if Mr Zero Taxwala have an annual income of 13 lakh in job, he have to pay advance tax to IT deptt. Then how can he divide his money among the family members ?
RE:Slaried person
by Suresh J on Jul 10, 2008 09:57 AM Permalink
I am also new about all these things, but to answer ur questions, i guess Mr Zerowallah, gets the money by filing for tax returns.
RE:how to gift money
by Vikram Dahiya on Jul 10, 2008 09:47 AM Permalink
Good Article but falls short of explaining how Mr. Zero tax wala can gift his taxable salary to family members without paying tax on his own income which is say 13 Lacs in this case. It will be great if some one can say its possible. Thanks, Regards, Vikram Singh
RE:how to gift money
by Shiva Kumar on Jul 10, 2008 10:21 AM Permalink
Dear Vikram....its not possible. The author has painted some fantacy...could be explored only if your source of income is from business or other income and again if you can spare to invest Rs.5 lacs. Its not applicable / possible if your income of 13 lacs is from salary.
