Law Commission proposition of doing away with the concept of HUF

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Law Commission proposition of doing away with the concept of HUF

On 31st August 2018 Law Commission proposes of doing away with the concept of (Hindu Undivided Family) HUF

According to the income tax department statistics, there were almost 2 million registered HUFs till March 2018.

In a consultation paper called Reform of Family Law, the commission came down hard on HUFs.

The strongly worded paper says ‘justifying the institution on grounds of deep-rooted sentiments at the cost of country’s revenues may not be judicious’.

The former Chief Commissioner, Income Tax, Ramanujam,  said that ‘the government carries out any amount of amendment to the Hindu law without looking into the revenue loss caused by the recognition of HUF as a separate taxable entity.

‘HUF may be a boon to the taxpaying Hindu. But it is definitely a bane to government revenues’

 

HUF

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