One of the most common form of business entity for tax planning is HUF. It is an independent taxable entity which is taxed separately from its members. It is formed by members of family and pooling of family assets. HUF can be formed by Hindus, Buddhists, Jains and Sikhs.
HUF must be registered in its name by preparing a HUF deed containing details of all the member of HUF, business to be carried on and assets brought in by the members. HUF needs to have a separate PAN and bank account.
© 2018 Business Escalators. All rights reserved | Powered by Creador Designs.