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HUF

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Concept of HUF And It’s Taxation Under Income Tax Law

Income Tax : Introduction A Hindu Undivided Family (HUF) is a distinct legal entity recognized by the Indian tax system. It is essentially a fa...

November 18, 2024 20034 Views 0 comment Print

Understanding Partition of HUF and its Tax Implications

Income Tax : Learn about the partition of Hindu Undivided Family (HUF), its legal process, tax implications under Section 171, and the criteria...

October 14, 2024 3900 Views 1 comment Print

Maximize Income Tax deductions with Health Insurance: Section 80D explained

Income Tax : Learn how Section 80D offers additional deductions on health insurance premiums for individuals and HUFs. Maximize tax savings und...

September 27, 2024 2388 Views 0 comment Print

New Slabs of Income Tax For Assessment Year 2024-25 And 2025-26

Income Tax : Learn the key changes in income tax slabs for AY 2024-25 & 2025-26 under section 115BAC, including standard deductions and new tax...

September 22, 2024 23550 Views 0 comment Print

Capital Gain Exemptions on Property or any Other Asset Sale (Sections 54, 54F, 54EC)

Income Tax : Learn about capital gain exemptions under Sections 54, 54F, and 54EC of the Income-tax Act for property sales. Maximize tax benefi...

September 9, 2024 3078 Views 2 comments Print


Latest News


Concerns on Corporate Tax, MSME Deductions, GST Rates

CA, CS, CMA : Explore recent updates on corporate tax rates, MSME concerns over tax deductions, and GST rates for shawls as addressed in Lok Sab...

August 5, 2024 378 Views 0 comment Print

Affidavit must for gift in kind, over Rs. 50,000, from relatives

Income Tax : From now on, when you get a gift in kind, valued at more than Rs. 50,000, from your parents or other relatives, make sure you have...

October 23, 2009 4528 Views 0 comment Print

Revised procedure for acceptance of address proof alongwith PAN application

Income Tax : While accepting “Application for allotment of PAN (Form 49A)” if both the addresses (residence and office) are mentioned in th...

October 16, 2009 2443 Views 0 comment Print

Post Office Deposit now Eligible for Deduction Under Section 80C

Income Tax : Section 80C of the Income-tax Act provides for a deduction of up to Rs. One lakh to an individual or a Hindu undivided family (HUF...

December 29, 2007 7389 Views 0 comment Print


Latest Judiciary


Belated appeal before CIT(A) dismissed without an opportunity of being heard not justified

Income Tax : ITAT Bangalore held that dismissal of appeal by CIT(A) merely because the same was filed belatedly not justified as CIT(A) failed ...

November 30, 2024 558 Views 0 comment Print

Tax Liability on Capital Gains Arises in Year of Possession, Not Occupancy Certificate

Income Tax : Liability to capital gains had not arisen in the assessment year 2017-18 as occupancy certificate was received on 01/02/2017 for c...

September 24, 2024 741 Views 0 comment Print

Capital Gains from CCL International Shares is genuine: ITAT Delhi

Income Tax : Read the detailed analysis of ITAT Delhi's order regarding capital gains earned from the sale of CCL International shares. ITAT de...

May 12, 2024 570 Views 0 comment Print

Demonetization Deposits Not Subject to Section 69A addition if Source Explained

Income Tax : In the Satishbhai Kadvabhai Sarvaiya Vs ITO case, ITAT Rajkot rules that during demonetization, deposits don't warrant addition un...

May 9, 2024 1446 Views 0 comment Print

Section 132B(1)(i): AO’s Power on Seized Assets Not Abates After 120 Days

Income Tax : In the case of Dipak Kumar Agarwal Vs Assessing Officer, Allahabad HC rules that the power of the assessing authority to decide on...

April 19, 2024 1212 Views 0 comment Print


Latest Notifications


Public Provident Fund Scheme, 1968 Amendment to Section 9(3) of Scheme

Fema / RBI, Finance, Income Tax : Provided further that an account opened on behalf of a Hindu Undivided Family prior to the 13th day of May, 2005, shall be closed ...

December 27, 2010 3347 Views 1 comment Print

CBDT notifies mandatory e-filing of return with digital signature for companies

Income Tax : Notification No. 49/2010-Income Tax In a recent Notification No. 49/2010 dated 9 July 2010 (Notification) issued by the Central Bo...

July 9, 2010 10135 Views 0 comment Print

Gifts of property (gifts-in-kind) above value of rs.50,000 become taxable from 1st October 2009

Income Tax : The Income Tax Act 1961 (the Act) has been amended with effect from 1st October 2009 to provide that any gift-in-kind, being an im...

October 1, 2009 2500 Views 0 comment Print


Latest Posts in HUF

Belated appeal before CIT(A) dismissed without an opportunity of being heard not justified

November 30, 2024 558 Views 0 comment Print

ITAT Bangalore held that dismissal of appeal by CIT(A) merely because the same was filed belatedly not justified as CIT(A) failed to grant an opportunity of being heard to the assessee so as to the grounds for condonation.

Concept of HUF And It’s Taxation Under Income Tax Law

November 18, 2024 20034 Views 0 comment Print

Introduction A Hindu Undivided Family (HUF) is a distinct legal entity recognized by the Indian tax system. It is essentially a family unit consisting of individuals who are lineal descendants of a common ancestor. The HUF is treated as a separate taxable entity, offering various tax benefits. A key feature of an HUF is the […]

Understanding Partition of HUF and its Tax Implications

October 14, 2024 3900 Views 1 comment Print

Learn about the partition of Hindu Undivided Family (HUF), its legal process, tax implications under Section 171, and the criteria for recognition by tax authorities.

Maximize Income Tax deductions with Health Insurance: Section 80D explained

September 27, 2024 2388 Views 0 comment Print

Learn how Section 80D offers additional deductions on health insurance premiums for individuals and HUFs. Maximize tax savings under the old tax regime.

Tax Liability on Capital Gains Arises in Year of Possession, Not Occupancy Certificate

September 24, 2024 741 Views 0 comment Print

Liability to capital gains had not arisen in the assessment year 2017-18 as occupancy certificate was received on 01/02/2017 for commercial portion and 17/03/2017 for residential portion but in the assessment year 2018-19 on receipt of possession.

New Slabs of Income Tax For Assessment Year 2024-25 And 2025-26

September 22, 2024 23550 Views 0 comment Print

Learn the key changes in income tax slabs for AY 2024-25 & 2025-26 under section 115BAC, including standard deductions and new tax rates.

Capital Gain Exemptions on Property or any Other Asset Sale (Sections 54, 54F, 54EC)

September 9, 2024 3078 Views 2 comments Print

Learn about capital gain exemptions under Sections 54, 54F, and 54EC of the Income-tax Act for property sales. Maximize tax benefits on LTCG with proper planning.

Concerns on Corporate Tax, MSME Deductions, GST Rates

August 5, 2024 378 Views 0 comment Print

Explore recent updates on corporate tax rates, MSME concerns over tax deductions, and GST rates for shawls as addressed in Lok Sabha Question No. 2157.

A Guide to Tax Benefits of a Hindu Undivided Family (HUF)

June 26, 2024 5496 Views 1 comment Print

Explore the tax benefits of a Hindu Undivided Family (HUF) in India. Learn about deductions, exemptions, and potential drawbacks of this unique legal entity.

Provision of Section 194A TDS on Interest Other Than ‘Interest On Securities’

June 12, 2024 2076 Views 1 comment Print

Explore the intricacies of Tax Deducted at Source (TDS) under Section 194A for interest payments other than securities. Learn about rates, exemptions, responsibilities, and procedures.

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