From Income Tax point of view, one just need to have PAN card in the name of HUF, to form an HUF.
Apply for PAN card in the name of HUF in form 49A.
HUF is treated as separate entity in Income Tax Laws. So, the benefit is that one can utilise Minimum Slab benefit twice i.e. once for Karta Himself and once for HUF.
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