HUF

The HUF can choose the old or new tax regime just like individuals

Income is taxed separately from individual incomes, preventing clubbing and reducing the likelihood of higher tax brackets

Banks are allowed to offer overdraft facilities to customers against green deposits

HUF has its own PAN card, and separate returns are filed, ensuring its independence from individual tax liabilities.

By distributing income and availing of deductions, it can facilitate tax savings

Individual taxpayers not having business or professional income can use this form

Filing income tax return will prove handy while applying for a loan, insurance cover, or a visa

However, assets inherited from one's maternal grandfather are not regarded as ancestral

Even in families dissolve the HUF, they may still have to give the daughter her rightful share, say experts

An HUF entity is against the rights enshrined in our constitution and has become a mere tax planning tool in the hands of tax consultants who advise affluent Hindus.

She cannot be the karta but has the right to her husband's share in an estate after his death