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CA Vishnu Ram
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Asked: 2022-02-20T12:54:57+05:30 In:

What is HUF? Can other than Hindus also form a HUF?

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What is HUF? Can other than Hindus also form a HUF?
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    1. Explainer

      HUF means Hindu Undivided Family. You can save taxes by creating a family unit and pooling in assets to form a HUF. HUF is taxed separately from its members.   Mainly A Hindu family can come together and form a HUF. And Buddhists, Jains, and Sikhs can also form a HUF. And also HUF has its own PRead more

      HUF means Hindu Undivided Family. You can save taxes by creating a family unit and pooling in assets to form a HUF. HUF is taxed separately from its members.

       

      Mainly

      A Hindu family can come together and form a HUF. And Buddhists, Jains, and Sikhs can also form a HUF.

      And also HUF has its own PAN and files tax returns independent of its members.

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