Dr Govinddas Akbari

  The big myth on Income Tax Payers in India; Data from a Chartered Accountants’Company Secretaries and other professional bodies and groups…….; ✍ FM said during his budget speech that we are largely a tax ‘non- compliant’ society and presented that only 3.7 crores are filing ITRs in this poor country of 125 crore population . *The reply by CAs ,CSs,CMA,s Sir, We have 82 crore voters out of which, – 75% are agriculturists ie. 61.5 crores ( You exempted…

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HINDU UNDIVIDED FAMILY (HUF) ​ Hindu Undivided Family (‘HUF’) is treated as a ‘person’ under section 2(31)​ of the Income-tax Act, 1961 (herein after referred to as ‘the Act’). HUF is a separate entity for the purpose of assessment under the Act. Under Hindu Law, an HUF is a family which consists of all persons lineally descended from a common ancestor and includes their wives and unmarried daughters. An HUF cannot be created under a contract, it is created automatically in…

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