HUF
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| Definition | : | Hindu Undivided Family |
| Category | : | Governmental » Rules & Regulations |
| Country/ Region |
: | India |
| Popularity | : |
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| Type | : |
Initialism
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What does HUF mean?
Hindu Undivided Family (HUF) is a family unit under Hindu law that is treated as a separate entity for the purpose of income tax assessment.
HUF consists of all persons lineally descended from a common ancestor, and includes their wives and unmarried daughters.
Note:
In India, there is a culture of joint families where multiple sources of income often arise for the family as a whole rather than a specific individual. In such cases, the income earned by the HUF is taxed as a separate entity and not in the hands of any individual family member.
To facilitate the taxation process, a separate Permanent Account Number (PAN) card is allotted to the HUF.
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Frequently Asked Questions
What is the full form of HUF in Taxation (India)?
The full form of HUF is Hindu Undivided Family
What is the full form of HUF in Governmental?
What is the full form of HUF in India?
Translation
Translate Hindu Undivided Family into other languages