| This
discussion note is an attempt to situate the development
of Hindu Undivided Family (HUF) as a legal tax entity
recognised by tax law, separate and distinct from individuals
and corporate entities. Over the years this tool has
been used by the family-owned business groups for evading
tax. In fact in the era of neoliberal globalisation,
the laws of the land have been altered suitably to facilitate
the transformation of family-owned business groups into
multinationals without an increase in their total corporate
liability. |
