HUF

HUF meaning A joint family or undivided family is an extended family arrangement prevalent throughout the Indian subcontinent, particularly in India, consisting of many generations living in the same household, all bound by the common relationship HUF is not a company and corporation It is separate entity under Hindu law No outside members other than family members can be introduced to the HUF So their is no filed in society

Rishi Kumar

CMA Inter

★ 6K+

24-Aug-21 09:50

So it is more or less like a partnership between one family members and no one other than the family members can't enter into the huf. Am I right?

Thread Starter

Vijay K

CA Inter

★ 9K+

24-Aug-21 09:54

You will learn about it in income tax in inter - for now what you understood is sufficient for foundation

Sriram Somayajula

Admin

24-Aug-21 11:56

Thank you sir.

Thread Starter

Vijay K

CA Inter

★ 9K+

24-Aug-21 12:35