Hindu Undivided Family

Sebi bats for easing angel fund norms; move to aid funding of startups

Sebi plans to eliminate the minimum investment requirement of Rs 25 lakh for angel investors

Sebi proposes allowing shared contact details for non-individual clients

To enhance ease of compliance, Sebi on Monday proposed broadening its guidelines on shared contact details by allowing non-individual clients, such as HUFs, partnerships, trusts, and corporates, to use the same mobile number or email address under exceptional circumstances. Currently, this exception applies only to individual clients within a family. "Under exceptional circumstances, the stock broker may, at the specific written request of a client, upload the same mobile number/email address for more than one client provided such client belong to one family (in case of individual clients) or such client is the authorised person of an HUF, Corporate, Partnership or Trust (in case of non-individual clients)," Sebi said in its consultation paper. Under the current rule, stock brokers are required to upload certain details of their clients, including a separate mobile number and email address for each client. However, under exceptional circumstances, the stock broker may upload the sa

Deduct salaries of members from HUF income to lower its tax bill

HUFs can also claim tax benefits on home loan repayments, insurance premiums, and other tax-saving investments

'Nothing but a Hindu code for all': Owaisi slams Uniform Civil Code

AIMIM chief Asaduddin Owaisi said that the Union Civil Code Bill forces Muslims to follow the culture of other religions

TMS Ep484: Infosys, tomato price, auto stocks, Hindu Undivided Family

What does Infosys guidance say about Indian IT's future? Why do tomato prices hurt India every year? Can the rally in auto stocks run out of fuel soon? What is a Hindu Undivided Family? Answers here

Over 750,000 HUFs claimed Rs 3,803 cr tax deductions in 2022-23: FinMin

Over 8.75 lakh Hindu Undivided Families (HUFs) have filed income tax returns (ITRs) and claimed deductions worth Rs 3,803 crore during 2022-23, the Finance Ministry said on Tuesday. Minister of State for Finance Pankaj Chaudhary in a reply to the Rajya Sabha provided details of the number of Hindu Undivided Families (HUF) availing tax benefits (in the form of deduction under Chapter VIA of the Income-tax Act) during the last five years. To a question on whether the government has assessed the impact of the Uniform Civil Code on tax benefits to HUFs in the country, the minister said: "No such assessment has been made as there is no such Code at present". Currently, a debate is going on about the status of the HUFs, following the implementation of the Uniform Civil Code on which the Law Commission has invited comments from the public. Under Hindu Law, a HUF is a family comprising all lineally descendants of a common ancestor, including wives and unmarried daughters. This provision al

Get EV loan sanctioned by Mar 31 to avail benefit under Section 80EEB

If electric vehicle is for personal use, avail deduction on interest paid; if for business purpose, treat as expense

Daughter act

Apex court ruling is a big step towards gender equality

Equal inheritance rights for women: What it means for HUF structure

Succession in business families: Judgment clears the air but its real-world application limited

Govt to discontinue 7.75% taxable savings bonds scheme from May 28

The bonds were issued in January 2018 for residents and Hindu Undivided Family (or HUF) members, and became instantly popular.

Why Hindu Undivided Family is losing its charm as a tax-saving tool

Wealthy don't prefer it after courts have allowed daughters to be an equal partner in their father's HUF after marriage

Will govt, Income Tax dept get more tax revenue if HUFs are abolished?

On August 31, the Law Commission of India recommended abolishing the concept of a Hindu Undivided Family to increase tax revenues as part of family law reforms.

Law Commission proposes doing away with concept of Hindu Undivided Family

Income tax experts believe that this proposal has been made primarily because of the government's increased focus on tax compliance