HUF registration can be done with Corpstore Business Solution in Madurai and Karur. HUF stands for Hindu Undivided family governed under Hindu law board and it could be formed by a married couple or by the members of a joint family. HUF can be formed by two members of the family, at least one among whom should be a male member. Senior most male member of the family will become ‘Karta’.
Hindu Undivided Family is treated as a ‘person’ under section 2(31)of the Income-tax Act, 1961 HUF is a separate entity for the purpose of assessment under the Act. However, most of the people not aware of the benefits of Hindu Undivided Family. There are many Hindu families in India, which are not divided yet, and the income accumulated by those families are considered as the joint income. The most interesting thing is that joint incomes do not impose a tax on specific individuals, rather it is imposed collectively on all family members.