Huf

Unlocking tax savings: How HUFs can help families optimise their finances?

The HUF can choose the old or new tax regime just like individuals

Tax saving on mutual funds as Hindu Undivided Family: Here's how to do it

Income is taxed separately from individual incomes, preventing clubbing and reducing the likelihood of higher tax brackets

Investing in green deposits: How are they different; what do they do

Banks are allowed to offer overdraft facilities to customers against green deposits

HUF: The legal hack to double tax benefits and lower your tax outgo

HUF has its own PAN card, and separate returns are filed, ensuring its independence from individual tax liabilities.

Leverage HUF to max tax benefits by distributing income, availing deduction

By distributing income and availing of deductions, it can facilitate tax savings

How to file ITR-2 online with salary income, capital gains for FY22

Individual taxpayers not having business or professional income can use this form

It's prudent to file nil ITR even if your income is below Rs 2.5 lakh

Filing income tax return will prove handy while applying for a loan, insurance cover, or a visa

Up to 4th line of Hindu descendants can claim share in ancestral wealth

However, assets inherited from one's maternal grandfather are not regarded as ancestral

A deep dive into the SC ruling on daughter's right to ancestral property

Even in families dissolve the HUF, they may still have to give the daughter her rightful share, say experts

It is high time 'Hindu Undivided Family' ceases to be a tax entity

An HUF entity is against the rights enshrined in our constitution and has become a mere tax planning tool in the hands of tax consultants who advise affluent Hindus.

Limited role for wife in HUF

She cannot be the karta but has the right to her husband's share in an estate after his death