Finology
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huf

This query is : Resolved 

03 April 2011 as ancestral income of hindu chargable under the head HUF. My question is there is same logic applicable in case of muslim also. or HUF also applicable to other than hindu also

03 April 2011 HUF is only applicable to hindu families. Nt to muslims. There is no other law for muslims.

03 April 2011 As the name suggests, an HUF is a family of Hindus. However, even Buddhists, Jains and Sikhs are regarded as Hindus, and can, therefore, set up HUFs. The concept of an HUF has basically evolved from ancient Hindu law. It is not applicable in case of Muslims.

Also see below link for more details---

http://taxguru.in/income-tax/meaning-formation-taxation-membership-and-partition-of-huf.html



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