Surprised! Yes, we can save tax through our family members i.e. Parents, Major Children’s and Wife !!
To Save Tax through Family members we needs to invest in way that our tax burden shifts to our family members and we can take the benefit of Income Tax Slabs.
You can save tax through our own parents as well as through our Parent in laws.To achieve this goal you needs to give away a portion of your funds, either as a gift or a loan, to your parents as well as your parents in law so that in years to follow your income tax burden becomes lighter as the income on funds transferred by you to them which would bring in income would be taxed in their hands.
To be continued..
(Note : User shall consult to his Financial Adviser before acting on these tips. These are experts opinion and it may vary from person to person)