Hindu Undivided Family (HUF) is treated as a ‘person’ under section 2(31) of the Income-tax Act, 1961. 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.
The head of a HUF is called the Karta, he is the senior-most male member of the family.
Yes but Income tax department has to clarify this.<
The male members of HUF are called coparceners. Gender descrimination is removed by Hindu Succession Amendment Act, 2005 and as per this the daughts become the coparceners of their father's families by birth.
Two. One of whom should be coparcener. As per income tax act, an HUF can be treated as person when it has atleast two coparceners.
The HUF may be resident or non-resident and as per the residential status the tax return is filed.
The eldest male member of the HUF will become Karta of that HUF.
HUF Registration + Annual Compliance*
HUF Registration + Annual Compliance
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