HUF Pan Card

HUF PAN Card – AHUF (Hindu Undivided Family) – A Hindu Undivided Family (HUF) is a legal and tax entity recognized under Indian law, consisting of all persons lineally descended from a common ancestor and their spouses. The HUF can own property, earn income, and file tax returns as a separate entity under the Income Tax Act. The Assessment Year (AY) is the year in which income earned during the preceding Financial Year (FY) is assessed and taxed. Income generated by the HUF from various sources—such as business, property, or investments—is reported under the HUF’s PAN and assessed in the corresponding AY.

Example: Income earned by an HUF during FY 2022–23 (1 April 2022 – 31 March 2023) is assessed and taxed in AY 2023–24..