Can HUF buy property
Yes, a Hindu Undivided Family (HUF) can buy and own property in India. HUF is recognized as a separate legal entity under Indian law, and it has the capacity to acquire and hold assets, including real estate.
An HUF can purchase property for various purposes, such as residential or commercial use, investment, or as part of its business activities. The property can be acquired in the name of the HUF, and the ownership rights are vested in the HUF entity.
It’s important to note that the HUF’s property ownership is subject to compliance with applicable laws, such as the provisions of the Income Tax Act, Hindu Succession Act, and any local regulations related to property acquisition and ownership.
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Additionally, it’s recommend to consult with a legal professional or property advisor to understand the specific legal and tax implications, as well as any restrictions or requirements that may apply when an HUF buys property in a particular state or region in India.
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