CONNECT TO AN EXPERT
The Hindu Undivided Family (HUF) is a type of family business in which all those who are directly descended from a common ancestor, as well as the male descendants' spouses and daughters, are members. A HUF is a separate entity from its members. Apart from the members, the company has a PAN and files tax returns. A person can form a HUF with his wife and children to take advantage of special tax breaks.
A HUF can be established by a family. It is made up of the 'Karta,' or eldest or head of the family. The 'karta' is in charge of the day-to-day operations of the HUF. Coparceners are the other members of the family involved in this type of business. The family business can be dissolved by a partition if all members agree. Assets will be distributed to members following the partition.
Features of HUF
Pros of HUF
Cons of HUF
Offices in India
Credence Corporate Solutions Pvt Ltd is one of the leading Online Business Solution Company in India, where any Large, Medium or Small business houses as also Entrepreneurs get Start-up services and Taxation solutions. One stop business set-up and corporate services company. We are a team of Professionals and Associates like Chartered Accountants, Company Secretary and Consultants with vast knowledge and experience, committed to provide consistent, customized and workable solutions in the fields of ROC, Taxation, Accounting, Labour Laws, Audits, etc...Read More
Get the latest company news, corporate information, and more on Credence Corporate Solutions. View this section for the recent information on Company Registration, Licenses, GST, Income Tax, Trademark, Product Mark and other topics. Get to chat with our business experts, read business articles, and stay up-to-date on the newest business news.
Today, by virtue of many outsourced accounting firms, many startups in India can avail of the maximum benefits from the outsourced accounting services, bookkeeping s...Read More
Startup India initiative was launched on January 16, 2016, by the government of India. The objective was to support entrepreneurs and build a strong ecosystem for promoti...Read More