21 Feb 2022
How to save tax by forming HUF (Hindu Undivided Family)
The acronym HUF stands for Hindu Undivided Family. By forming a family unit and pooling assets to form a HUF, you can save money on taxes. The HUF is taxed independently of its members. A HUF is formed when a Hindu family joins forces. HUFs can be formed by Jains, Buddhists, and Sikhs. HUFs need to file separate income tax returns and own separate PAN (Permanent Account Number) from their members.
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