<p>As many as 8,75,948 Hindu Undivided Families have availed income tax benefits to the tune of Rs 3,802.86 crore in the financial year 2022-23, the government informed the Rajya Sabha on Tuesday.</p>.<p>In a reply to an unstarred question, the Minister of State for Finance Pankaj Choudhary said in the financial year 2018-19, a total of 8,84,735 HUFs got similar benefits to the sum of Rs 4044.06 crore in the financial year 2018-19.</p>.<p>In 2019-20, a total of 9,02,513 families availed benefits to the sum of Rs 4,160.93 crore.</p>.<p>However, in the last five years, a maximum of 9,25,307 families received benefits in income tax to the sum of Rs 4,173.75 crore in 2020-21.</p>.<p>Hindu Undivided Family (HUF) is treated as a ‘person’ under Section 2(31) of the Income-Tax Act, 1961. HUF is a separate entity for the purpose of assessment under the Act.</p>.<p>Under the 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 a Hindu Family.</p>.<p>Jain and Sikh families are also treated as HUF under the Act.</p>
<p>As many as 8,75,948 Hindu Undivided Families have availed income tax benefits to the tune of Rs 3,802.86 crore in the financial year 2022-23, the government informed the Rajya Sabha on Tuesday.</p>.<p>In a reply to an unstarred question, the Minister of State for Finance Pankaj Choudhary said in the financial year 2018-19, a total of 8,84,735 HUFs got similar benefits to the sum of Rs 4044.06 crore in the financial year 2018-19.</p>.<p>In 2019-20, a total of 9,02,513 families availed benefits to the sum of Rs 4,160.93 crore.</p>.<p>However, in the last five years, a maximum of 9,25,307 families received benefits in income tax to the sum of Rs 4,173.75 crore in 2020-21.</p>.<p>Hindu Undivided Family (HUF) is treated as a ‘person’ under Section 2(31) of the Income-Tax Act, 1961. HUF is a separate entity for the purpose of assessment under the Act.</p>.<p>Under the 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 a Hindu Family.</p>.<p>Jain and Sikh families are also treated as HUF under the Act.</p>
