HUF Tax Filing: An HUF is a separate legal entity that allows families to pool their income and assets. It has its own PAN and files income tax returns like an individual. The income earned by the HUF is subject to taxation, and various exemptions or deductions may apply.
Trust Tax Filing: Trusts, whether for charitable or private purposes, have specific tax obligations. A trust must file returns, report income, and claim exemptions (if applicable). The tax treatment depends on the type of trust—private, public, or charitable—and its activities.
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