Huf

avneesh (Querist) 28 July 2013 This query is : Resolved
1.- WHAT IS PROCESS AND CONDITION OF FORMATION OF HUF.

2.- WHAT IS INCOME TAX TREATMENT OF huf

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Rajesh Thakker (Expert) 06 December 2013
The formation of HUF may be ancestral or through gift. The income is assessed under status of the HUF separately under the Income-tax. Therefore, the Karta have a two status as per the Act.

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