HINDU UNDIVIDED FAMILY FORMATION (HUF)

ABOUT HINDU UNDIVIDED FAMILY FORMATION (HUF)

HUF means Hindu Undivided Family. You can save taxes by creating a family unit and pooling in assets to form an HUF. HUF is taxed separately from its members. A Hindu family can come together and form an HUF. Buddhists, Jains, and Sikhs can also form an HUF. HUF has its own PAN and files tax returns independent of its members.

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Frequently Asked Questions

  • Who is the Karta of an HUF?

    The head of the HUF is called the Karta. He is the senior-most male member of the family

  • Can a Woman be HUF Karta?

  • Who are HUF Coparceners ?

  • Are there any minimum numbers of coparceners required for an entity to be taxed as HUF ?

  • Should a HUF always be a resident of India ?

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