‘Hindu Undivided Family’ or ‘Hindu Joint Family’ or Hindu United Family’ is governed by the ‘Hindu Law’ only and it has not been defined under the Income Tax Act. So the concept of HUF can be defined as an extended family arrangement prevalent among Hindus of the Indian subcontinent, consisting of many generations living under the same roof. It means a ‘Family’ that consists of all persons lineally descended from a common ancestor, including wives and unmarried daughters. In other words, a HUF cannot be formed by a group of people who do not constitute a family; lineal descendants with a common ancestor is a must. This means your membership into a HUF does not come from a contract but from your status.
Posted on: Fri, 19 Sep 2014 14:14:42 +0000
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