Hindu Undivided Family
The concept of Hindu Undivided Family, commonly known as HUF, was derived from the ancient hindu laws. An HUF can be formed with the oldest male member and his wife and children and their spouses. HUF is treated as a separate entity all together, and enjoys the same tax benefits as any other individual taxpayer. As the name states, ‘Hindu Undivided Family’, one may think, this is...
