CA Santosh Kumar Eligeti
(Partner)
(151 Points)
Replied 21 November 2014
What is an HUF? 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.
CAclubindia
