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What are the benefits of HUF account with respect to trading?
HUF account has various tax benefits. HUF accounts can avail of a minimum tax exemption of Rs 2.5 lakhs. In addition, HUF accounts have tax slabs and exemptions similar to individual accounts. HUF accounts qualify for all the tax benefits under Section 80C, 80D, 80G, 80L, etc. HUF is also eligible for tax exemption on long-term capital gains earned from selling any capital asset other than a house property under Section 54F of the Income Tax Act, 1961.