What is a HUF? HUF means Hindu Undivided Family. You can save taxes by forming a family group and pooling assets into a HUF. HUFs are taxed separately from their members. A Hindu family can jointly form a HUF. Buddhists, Jains and Sikhs can form HUFs. HUF has its own PAN and free tax returns …
The Reserve Bank of India (RBI) has taken a significant step for fairness and transparency in disclosing penal charges. Instead of ‘interest,’ penalties will now be considered a ‘charge’ and not compounded further. This change won’t affect regular compounding of interest on loans. Regulated entities (RE) won’t add additional interest to penal charges. Many REs …