img

The Hindu Undivided Family

  • Aditya Shastri
  • Sep 14 2013
Estimated reading time: 4 minutes 28 seconds

The Indian Income tax Act recognises a Hindu Undivided family as a separate taxable assessee No! There is no such distinct tax on families. At least not yet! What this means is that HUF is treated as a separate person just like how companies are treated as separate entities/ assesses.HUF is a family hotchpot which is entitled to the same exemptions and deductions as any other individual taxpayer. Since HUF is taxed as a separate assessee, a basic exemption limit of 2 lakhs is allowed! Further the...

Subscribe

Enter Your Name

This Email is registered already.

Please Enter Email

The email address is invalid

Disclaimer - Mitraz is NOT a Loan Provider.

It is a Wealth Management & Advisory Firm.