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What do you mean by HUF in income tax?

By IndianMoney , 3 weeks ago

Under section 2(31)? of the Income-tax Act, 1961, Hindu Undivided Family ('HUF') is treated as a 'person'. For the purpose of assessment under the Act, HUF is a separate entity. Also, an HUF cannot be created under a contract, it is created automatically in a Hindu Family.

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