HUF Business
This query is : Resolved
gopikrishna
(Querist)
06 July 2011
Can a family of people other than Hindu undivided family (Eg: Christian family, Muslim family etc) form a HUF business and run accordngly availing all the benefits provided by the Income Tax Act applicable to HUF.
CA PARAS BAFNA
(Expert)
06 July 2011
Income Tax does not provide any benefit to a person as the intention of the legislature has always remained to mark a taxable unit as a person and collect tax from it.
*
Other families can form an AOP or firm but
the group in no way can be termed as a Hindu Undivided Family as the other families are not governed by Hindu Law.
*
"The word 'Hindu' preceding the words 'undivided family' signifies that the undivided family should be of those whom Hindu law applies (CWTv. Smt Champa Kumari Singhi & others, 83ITR 720(S.C.) .
*
Other families can form an AOP or firm but
the group in no way can be termed as a Hindu Undivided Family as the other families are not governed by Hindu Law.
*
"The word 'Hindu' preceding the words 'undivided family' signifies that the undivided family should be of those whom Hindu law applies (CWTv. Smt Champa Kumari Singhi & others, 83ITR 720(S.C.) .
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