28 November 2016
HUF means Hindu Undivided Family. By creating a family unit and pooling in assets to form an HUF you can save taxes. HUF is taxed separately from its members. A Hindu family can come together and form an HUF. Buddhists, Jains and Sikhs can also form HUF. HUF has its own PAN and files tax returns independent of its members.
HUF has its own PAN and files a separate tax return. A separate joint hindu family business is created since it has an entity separate from its members.
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