Difference between huf and individual
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 April 2017
which is more beneficial between HUF and individual form taxation point view
24 April 2017
There is not much of a difference between the two from taxation point of view. Tax rates apply equally to both. Both are eligible to claim section 80C and 80D. Only thing is that section 87A rebate is not available to HUF. Thus maximum income which can be shown without tax in case of HUF is Rs 2,50,000/- only. Individual can show up to Rs 300000/- -for AY 2017-18 (after considering 87A rebate) if total income does not exceed Rs 500000/-. But HUF being a separate tax entity can help you to split your income and thus save tax.
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