Advantages of HUF Forming and maintaining a Hindu Undivided Family (HUF) presents a host of compelling benefits. Below, I outline several key advantages of HUF: 1. Tax Planning and Savings: HUF provides opportunities for tax planning and savings. It is treated as a separate tax entity, allowing for income splitting and tax optimization among… Read More »
HUF ownership: In an HUF (Hindu Undivided Family), the ownership of the family’s assets and properties is vested in the HUF itself. This consider as separate legal entity and the collective ownership of its members is defined by their status as coparceners. Coparceners, typically male descendants up to four generations from the common ancestor, have… Read More »
Death of Karta in HUF When the Karta of an Hindu Undivided Family passes away, the HUF continues its existence, and the responsibility of the Karta is assumed by the next senior male member of the family. The seniority determine based on the rules of succession within the family. Here are some key points to… Read More »