HUF is a separate tax entity? As a separate tax entity, an HUF has its own PAN (Permanent Account Number) and is require to file income tax returns. The income earned by the HUF is assessed separately from the income of its individual members. The HUF is subject to the provisions of the Income… Read More »
Introduction A Hindu Undivided Family (HUF) is a distinct legal entity in India, formed by members of a joint Hindu family. It is recognized under tax laws and enjoys certain benefits. However, when it comes to commission income, there are legal and practical considerations that determine whether an HUF can earn such income. This article… Read More »
HUF for Tax Introduction A Hindu Undivided Family (HUF) is a distinct legal entity under Indian tax law that offers significant tax-saving opportunities for families. Recognized under the Income Tax Act, an HUF allows families to pool assets and income, ensuring effective tax planning. However, while it provides tax advantages, it is also subject… Read More »