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Thread 🧵 on HUF ( Hindu Undivided Family)
HUF is a big concept, will create 2-3 threads for your understanding.
In this thread :
What is HUF?
Formation of HUF
Tax Planning through HUF
How to generate corpus for HUF? @Spaysocial @investyadnya @AdeParimal @gaurav28jain #HUF
HUF is a big concept, will create 2-3 threads for your understanding.
In this thread :
What is HUF?
Formation of HUF
Tax Planning through HUF
How to generate corpus for HUF? @Spaysocial @investyadnya @AdeParimal @gaurav28jain #HUF
What is HUF?
As the name suggests it’s an Hindu Undivided Family. It’s a separate entity recognised like Individual, Companies etc.
Who all covered under HUF?
Hindu’s, Buddhist, Jains and Sikh’s. It means only these people can form HUF.
As the name suggests it’s an Hindu Undivided Family. It’s a separate entity recognised like Individual, Companies etc.
Who all covered under HUF?
Hindu’s, Buddhist, Jains and Sikh’s. It means only these people can form HUF.
HUF governed by which Law?
There is no codified law for HUF.
It’s a customary law based on Hindu Law. Hindu law defines major clauses of HUF.
Also governed by Income Tax Act, 1961 as income is in question. So taxation governed by the Income Tax Act.
There is no codified law for HUF.
It’s a customary law based on Hindu Law. Hindu law defines major clauses of HUF.
Also governed by Income Tax Act, 1961 as income is in question. So taxation governed by the Income Tax Act.
