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what diff. between huf and individual?
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Answer / h.r. sreepada bhagi
Under Income Tax Act, 1961 an Individual refers to a natural
person who is assessable to Tax under that Act. Where as a
HUF (Hindu Undivided Family) is assessed separately as an
entity and is managed by Karta of the family. HUF will have
more than one individual natural person as members.
This answer is from the vie point of Income Tax in India &
not a general one.
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