Question

What is HUF? Explain.

Answer 1

Answer:

Hindu undivided family

Answer 2

Answer:

HUF means Hindu Undivided Family. You can save taxes by creating a family unit and pooling in assets to form a HUF. HUF is taxed separately from its members. A Hindu family can come together and form a HUF. Buddhists, Jains, and Sikhs can also form a HUF.

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