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Do this to save your income tax Introducing HUF (Hindu Undivided Family) * This separate legal entity, with its own PAN card and bank account, becomes an extension of our family. But who manages its affairs? That’s where Karta steps in! * The Karta: The head of the HUF, typically the eldest member, plays a crucial role in Decision-making and Legal representation. * HUF can share our family business income and rental income. * HUF can also invest in Stocks,MF,Properties etc. * By strategically sp
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Reduce your Tax Liability by 12 Lakhs Hindu Undivided Family (‘HUF’) is treated as a ‘person’ under section 2(31)​ of the Income-tax Act, 1961 (herein after referred to as ‘the Act’). HUF is a separate entity for the purpose of assessment under the Act. Under Hindu Law, an HUF is a family which consists of all persons lineally descended from a common ancestor and includes their wives and unmarried daughters. An HUF cannot be created under a contract, it is created automatically in a Hindu Family
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