If jains are given minority status

Tax planning 1697 views 7 replies

HELLO ALL..

IF JAINS ARE GIVEN MINORITY STATUS AND BENEFITS LIKE CHRISTIANS, PARSIS, MUSLIMS ETC.. THEN DOES THAT MEAN THEY ARE DIFFERENT FROM HINDU STATUS..

WHAT ABOUT THEIR EXISTING HUF(HINDU UNDIVIDED FAMILY) STATUS ?

WILL ALL THE HUF PAN BECOME NULL AND VOID FOR JAINS ?

CAN A JAIN APPLY FOR HUF IN FUTURE FOR TAX PLANNINS PURPOSE ???

 

Replies (7)

Even through HUF means hindu undivided family, it doesnot mean it only applies to hindus,it is for giving a special assesment status for the purpouse of assesment of income of joint family

 

my point is that now if they tick in a different section like other minority caste then they will not be hindus anymore..

minority means other than majority.. which means other than hindus.. this makes them void for being a hindu undivided family...

jt family are in all castes but parsis, christians or muslims will not get an huf status... similarly this should be with jain caste... also they get their benefits of being minoirty not being majority then how can they reap benefits of both majority and minority.. 

this is creating a contrast in between govt grants and income tax act..

for claiming HUF status there is no necessarity of being hindus,its Just a name given for assessment purpouse of joint family not only Hindu joint family

TRY APPLYING FOR HUF FOR A CHRISTIAN !!!!

Hello Shivang -

the same question in my mind...if you get some answer, Pl let me know !

Thanx for the reply kapil.. technically both the perquisites of minority and majority cannot be enjoyed..
We don't need to apply our mind unless any contradictory stand is taken by IT Dept. Jain and Sikhs are anyway not governed by Hindu Succession Act. Still for the purpose of Income Tax they're allowed to form HUF. Further, HUF is not defined under Income Tax Act. Minority status is given by the government to grant certain benefits to them, which can't be read with Income Tax matters. So according to me there is no change in position of law.


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