Why HUF may not be effective tool for tax planning

CA Brijmohan Lavaniya , Last updated: 12 May 2020
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A Hindu undivided family (HUF) is treated as a separate entity for the purpose of taxation under the income tax act, 1961. It is included in the definition of a person under section 2(31) of the Income-tax act, 1961. Income tax is payable by every person. Therefore, income tax is payable by a HUF.

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Published by

CA Brijmohan Lavaniya
(CA and Operations Leader with over 6 years of experience in the tax and finance domain. Currently the Head of Operations and a Founding Team Member at TaxBuddy.com, a leading online platform that provides tax planning and filing services.)
Category Income Tax Report