
What is HUF (Hindu Undivided Family)? A “Hindu Undivided Family” is a separate legal entity as per the Income Tax Act. HUF can be formed by Jains, Sikhs, and Buddhists along with Hindus. There are various incomes that are arising for the whole family and not in the name of a specific individual of the family. A HUF can have all the sources of income like Income for house property, income Continue Reading