How to Obtain a Hindu Undivided Family (HUF) Certificate?
The Hindu Undivided Family (HUF) is a legal entity recognized in India under the Hindu Law. It consists of individuals who are lineal descendants of a common ancestor and is a significant instrument in tax planning and wealth management. If you are looking to create or manage a HUF, obtaining a HUF certificate is an essential step. This certificate formally recognizes the HUF and can be used for various legal and financial purposes. This guide will take you through the process of obtaining a HUF certificate. Understanding HUF: A Brief Overview A Hindu Undivided Family (HUF) is a family that consists of all persons lineally descended from a common ancestor, including their wives and unmarried daughters. Under Hindu Law, an HUF can be created by a Hindu, Jain, Sikh, or Buddhist family. The key advantages of forming an HUF include tax benefits, asset protection, and efficient estate planning. Key Benefits of HUF Tax Savings : HUF is treated as a separate entity for income tax purposes, al...