Question:
Under the Income Tax Act, 1961, a Hindu Undivided Family (HUF) consists of the following except:
Under the Income Tax Act, 1961, a Hindu Undivided Family (HUF) consists of the following except:
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HUFsarecreated by default under Hindu law and are used for tax benefits in India
Updated On: Jan 8, 2025
- All persons lineally descended from a common ancestor and includes their wives
- Unmarried daughters
- A stranger who has been residing with the family for 10 years
- Head of the HUF ”Karta”
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The Correct Option is C
Solution and Explanation
A Hindu Undivided Family (HUF) includes members who are lineally descended from a common ancestor, their wives, and unmarried daughters. However, a stranger, even if residing with the family for an extended period, does not become a part of the HUF as per the Income Tax Act, 1961
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