Applicable ITR Forms for HUF
ITR-2 is applicable for Individuals and Hindu Undivided Families (HUF) having income under any head other than Profits and Gains of Business or Profession, who are not eligible to file ITR-1.
ITR-3 is applicable for Individuals and Hindu Undivided Families (HUF) having income under the head Profits and Gains of Business or Profession, who are not eligible to file ITR-1, ITR-2, or ITR-4.
ITR-4 (SUGAM) is applicable for an Individual or Hindu Undivided Family (HUF), who is a Resident other than Not Ordinarily Resident, or a Firm (other than LLP) which is a Resident having Total Income up to ₹ 50 lakh and having income from Business or Profession computed on a presumptive basis (u/s 44AD / 44ADA / 44AE) alongside specific eligible income sources.
Tax Regimes and Slabs for AY 2026-2027
The Finance Act 2023 amended the provisions of Section 115BAC w.e.f AY 2024-25 to make the new tax regime the default tax regime for assesses being an Individual, HUF, AOP, BOI, or Artificial Juridical Person. Eligible taxpayers can opt out of the default tax regime and choose the old tax regime.
For non-business cases, the option to change the default tax regime can be exercised every year directly in the ITR filed on or before the due date under section 139(1). For business and profession cases, taxpayers wanting to opt out must furnish Form-10-IEA on or before the due date u/s 139(1).