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Part 1- What is HUF & How to create HUF?

Tax Planning is a part of overall Financial Planning and HUF is a good way of planning and reducing your tax liabilities. But Many times I have seen people are confused about formation and functioning of Hindu Undivided Family (HUF) and as a result are not able to take the benefit of HUF as a separate entity and save their taxes.  So this article is an effort to clarify the basics of HUF in the eyes of Income Tax and how to utilize HUF as a Tax Planning tool.

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