Nithin Kamath, the billionaire co-founder and CEO of Zerodha, highlighted the benefits of the Hindu Undivided Family (HUF) through a post on the social media platform X, emphasizing its unique role as a legal and tax entity designed specifically for Hindu families in India. He underscored how this structure enables individuals to save on taxes effectively.
All the members have the right to be maintained from income and assets of the HUF but do not have any right to ask for a partition of the HUF assets whereas a coparcener has a right to ask for a partition of the corpus of the HUF
Budget News: Budget 2024 income tax expectations: Enhancing the Rs 15 lakh threshold under the new tax regime to Rs 20 lakh could ease the burden of the unchanged limit. Find out why this change is necessary and how it can benefit the common man in Budget 2024.
In a significant ruling, Delhi High Court has said that a woman can be the “karta” (head) of a Hindu Undivided Family (HUF). This landmark verdict brings women on par with men on matters of inheritance.