Family Law
HUF (Hindu Undivided Family)
A distinct legal and tax entity recognised under Hindu law, comprising all persons lineally descended from a common ancestor, along with their wives and unmarried daughters.
An HUF can hold property and carry on business as a distinct unit, with the senior-most member typically acting as "karta" (manager) to manage its affairs, and it is also recognised as a separate assessable unit for income tax purposes.
Coparceners within the HUF have specific rights, including the right to seek partition of the HUF's property.
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