Tag Archives: #FamilyTaxPlanning

Can HUF give gift to its members?

Gift

Can HUF give gift to its members Yes, a Hindu Undivided Family (HUF) can give gift to its members. As per the Hindu law, an HUF can make  of its ancestral or self-acquired property to its members. The are typically given by the karta (head) of the HUF on behalf of the family. However, it’s… Read More »

Can HUF claim 80c deduction?

HUF Individual or Non Individual

Can HUF Claim 80C Deduction In India, the Income Tax Act provides various avenues for taxpayers to claim deductions and reduce their taxable income. One of the most popular sections under which deductions are claimed is Section 80C. This section allows individuals and Hindu Undivided Families (HUFs) to claim deductions for investments and expenses, up… Read More »