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"Additional Deductions Available To An HUF For Certain Income And Investments"

Presently the basic exemption limit even for a Hindu undivided family is `2,50,000 for the A.Y. 2014-2015. For investments made, the HUF would enjoy the benefit of tax deduction under Section 80C of the Income-tax Act, 1961 to the full extent of ` 1.5 Lath. However, from 13 May, 2005 an HUF cannot subscribe to PPF. Old HUF accounts, if they have completed 15 years will have to be closed. Thus, the HUF is able to enjoy same tax benefits as are enjoyed by an individual tax payer savings bank account interest upto ` 10,000 also exempt for HUF
Hindi Undivided Family (HUF) - Taxation and Tax Planning

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