HUF Account India

Question

We have a HUF (Hindu Undivided Family) account in a Govt Bank. My father is "Karta" of this account and me being his son is also a member.

So, can I ask my employer (from part time job) to electronically transfer my money in this account? If he agrees and asks for account details, should I be providing details as:

Name in account - My Name (not Father's)
Bank's NEFT Details
HUF Account number

Anuvrat Parashar · Answer

If you are trying to do it for the sake of saving tax, it won't help. The amount will still be treated as your income.

If it is consultation work you are doing, you may consider filing your taxes under 44ADA which would consider 50% of your income as expense.

HUF Account India

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