15 December 2008
What is HUF and what is the difference bitween HUF and Induvidual. And whether HUF has an induvidual PAN number(i.e. once have a two PAN once for HUF & another for Induvidual). Give me some brief for their I.T. return
15 December 2008
HUF is a different person under the Income Tax and is allotted different PAN. The return of income for HUF is filed seperately. However, the tax rates and deductions and exemptions of ondividuals and HUFs are almost the same. PAN for individual and HUF is different and PAN allotted to the Karta of HUF or any other member may not be used for HUF.
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