Tag Archives: #HUFandIncomeTax

HUF is a separate tax entity?

Tax entity

Hindu Undivided Family   Yes, you are correct. A Hindu Undivided Family (HUF) is considered a separate tax entity in India. It is treated as a distinct taxpayer for income tax purposes. As a separate tax entity, an HUF has its own PAN (Permanent Account Number) and is required to file income tax returns. The… Read More »

3.21 Can HUF claim 80c deduction

HUF Individual or Non Individual

Can HUF Claim 80C Deduction Yes, a Hindu Undivided Family (HUF) is eligible to claim deductions under Section 80C of the Income Tax Act, 1961. Section 80C provides deductions for certain investments, expenses, and payments made by taxpayers to reduce their taxable income. The maximum deduction limit under Section 80C is currently ₹1.5 lakh per… Read More »