Sponsored
    Follow Us:

HUF

Latest Articles


India Sources of Funds – Exploring a few modalities for EB5 Applicants with Incomes-Assets in India

Fema / RBI : Explore methods for Indian EB5 applicants to source funds, including HUF, stocks, property, and overseas assets, and navigate asso...

May 13, 2025 492 Views 0 comment Print

TDS and TCS Rates for Financial Year 2025-26

Income Tax : Check TDS and TCS rates for FY 2025-26 (AY 2026-27) for residents and non-residents. Includes thresholds, rates, and key sections ...

April 21, 2025 48564 Views 1 comment Print

Section 44AD: Computation of Business Income on Presumptive basis

Income Tax : Understand Section 44AD of the Income Tax Act: presumptive business income, eligibility, turnover limits, and tax implications for...

April 7, 2025 1710 Views 0 comment Print

Understanding HRA, TDS, and Income tax notices: Analysis

Income Tax : Learn about HRA claims, TDS obligations on rent, and why taxpayers are receiving tax notices. Understand compliance steps to avoid...

April 4, 2025 5985 Views 2 comments Print

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 21849 Views 0 comment Print


Latest News


Impact of Supreme Court Judgement On HUF Tax Benefits

Income Tax : Government addresses Supreme Court judgment on tax exemptions for clergy and its implications on Hindu Undivided Families (HUFs) u...

February 12, 2025 1251 Views 0 comment Print

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 444 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 4567 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 2527 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 7440 Views 0 comment Print


Latest Judiciary


ITAT Surat Directs Re-examination of Tax on Gift from HUF

Income Tax : ITAT Surat remands case to CIT(A) for fresh adjudication on HUF gift taxability under Section 56(2)(vii) of the Income Tax Act, ci...

March 9, 2025 402 Views 0 comment Print

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 696 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 1302 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 678 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 1608 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 3431 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 10309 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 2572 Views 0 comment Print


Assessment proceedings cannot be conducted against HUF after partition

February 28, 2020 1041 Views 0 comment Print

The issue raised by the assessee that the HUF was not in existence when the assessment proceedings have been conducted and the Assessment Order has been passed on HUF and therefore, the entire proceedings are rendered null and void and it should be held that the Assessment Order is bad in law on the facts and circumstances of the present case.

Get HRA rebate till you move into Your own house

February 28, 2020 5973 Views 0 comment Print

If you have receipts of house rent allowance and if you are paying rent, exemption u/s 10(13A) will be available. Section 24, which allows a deduction in respect of interest on capital borrowed for purchase/construction of a house property, permits this deduction for the interest that relates to the previous year in which the property is acquired or constructed.

Section 194M: Additional burden on Individuals/HUFs not liable to audit

December 30, 2019 9954 Views 2 comments Print

Now, a new section 194M has been inserted whereby Individuals/HUFs (not covered under section 194C, 194H & 194J) shall deduct TDS @5% at the time of payment or credit in the books to any resident for:

How to save more tax by Creating a HUF?

December 18, 2019 6345 Views 1 comment Print

The Income Tax Act 1961 provides that a HUF (Hindu Undivided Family) is separate unit like an individual and is too assessed accordingly. A HUF is eligible for those exemptions that are available to a resident Indian who is not a senior citizen. It can own property and also have its own business.

In Absence of Karta, Any Family member may be permitted to Prosecute Suit

December 18, 2019 8187 Views 0 comment Print

Madhuri Doulatram Choitram Vs Lachmandas Tulsiram Nayar (HUF) (Bombay High Court) It is one thing to say that a member of the family other than, or in the absence of, a Karta, may be permitted to prosecute the suit on account of special circumstances of a given case. And a completely different thing to claim […]

A Bird’s Eye View of HUF Taxation in India

December 9, 2019 30213 Views 10 comments Print

Considering the unique social, cultural and economic dynamics of Indian joint family, the Income Tax Act has given the status of separate legal entity to Hindu Undivided Family(HUF) under section of 2(31) of the IT Act. This article discusses various aspects of HUF taxation, touching upon recent judicial decisions which help to understand the HUF holistically.

Save Income Tax- Form Your HUF

June 27, 2019 10599 Views 7 comments Print

Hindu Undivided Family (HUF) is known to be a very good tax saving tool in India in an ethical & compliant way. Though it is not so widely used by the people as it could have been. Let’s understand who can form an HUF & how is it taxed under the Income Tax Act: Formation […]

All About HUF – A Clear Approach

November 28, 2018 53496 Views 16 comments Print

I believe you must have heard of Hindu Undivided Family (HUF). Most of the people think that this is a person which are created by some kind of Agreements etc. Well, if you are also one of them then it’s time to bust your myth about that. Because the fact is something far different from […]

TDS On Payment of Rent More Than Rs. 50,000 Per Month By Individuals/ HUFs

October 24, 2018 90393 Views 3 comments Print

There is an existing provision for deduction of TDS (deduction of tax at source) under section 194-I in the Income Tax Act, 1961 for individuals/HUFs, wherever tax audit is applicable.

Co-coparcener cannot challenge sale made by Karta of HUF due to legal necessity

September 27, 2018 8262 Views 0 comment Print

Kehar Singh (D) Thr. L.Rs. & Ors.Vs Nachittar Kaur & Ors. (Supreme Court of India) Once the factum of existence of legal necessity stood proved, then, in our view, no co­-coparcener (son) has a right to challenge the sale made by the Karta of his family. The plaintiff being a son was one of the co­-coparceners along with his father­-Pritam Singh. He […]

Sponsored
Sponsored
Search Post by Date
June 2025
M T W T F S S
 1
2345678
9101112131415
16171819202122
23242526272829
30