I have been filing ITR for 3 years and in my first year I was so confused about what is HUF in income tax. I had no idea but thankfully, I have some CA friends who I met in the gym. I asked one of them about it and he helped me out. I can share what he told me and I hope it will help you out.
What is meant by HUF in Income Tax?HUF basically stands for Hindu Undivided Family. People come under the HUF category when a family and a family unit directly descend from a common ancestor. It also consists of wives and daughters of male descendents. You must know that HUF is a body of persons and not a person alone.
What is individual and HUF in Income Tax?I have already shared what is HUF in Income Tax, now let me tell you who is an individual in Income Tax. Individuals are the people residing in India. They are categorised in 3 sections:
Individuals below 60 years of age
Individuals between 60 and 80 years of age
Individuals above 80 years of age
This should give you an idea about what is HUF in Income Tax.
Read more:
Who is not required to file Income Tax Return?
What is 80TTA in Income Tax?
What is 80G in Income Tax?
Your Feedback Matters! How was this Answer?
Shifting, House?
✔
Lowest Price Quote✔
Safe Relocation✔
Professional Labour✔
Timely Pickup & Delivery
Intercity Shifting-Upto 25% Off
Check Prices
Intracity Shifting-Upto 25% Off
Check Prices
City Tempo-Upto 50% Off
Book Now
Authors Of The Question
What is HUF in income tax?
kishan
410 Views
1
2 Year
2022-03-21T14:22:04+00:00 2022-03-27T16:16:39+00:00Comment
Share