anonthink (Individual) (36 Points)
10 February 2025Are the new tax slabs that got released in this budget also applicable to HUF?
For example, if HUF earns around 11 lakh, it will be a tax free income? [no capital gains and those exempted income]
Generally HUF and Individual have different tax slabs and hence this confusion.
Rama chary Rachakonda
(Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294)
(6386 Points)
Replied 10 February 2025
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(182959 Points)
Replied 10 February 2025
No, the rebate under Section 87A of the Income Tax Act is not applicable to Hindu Undivided Families (HUFs). This rebate is specifically available to individual taxpayers.
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