Key features of an HUF include:

Common Ancestry: Members of an HUF typically trace their lineage to a common male ancestor, such as a father or grandfather.

Joint Ownership: HUF members collectively own and manage ancestral or joint family property, as well as other assets acquired through partition, inheritance, or gifts.

Income Tax Entity: HUF is considered a separate entity for income tax purposes, with its own Permanent Account Number (PAN) and can earn income, pay taxes, and avail tax benefits separately from its individual members.

HUF Property: Property and assets held by the HUF are considered the property of the entire family, and decisions related to these assets are typically made jointly by the senior-most member (the Karta) and other adult members.

Partition: HUF can be partitioned into smaller units, creating new HUFs or dividing assets among individual members, but this partition must be done legally and may involve certain tax implications.

Karta: The Karta is typically the senior-most male member of the HUF and is responsible for managing the affairs of the HUF, making financial decisions, and representing the HUF in legal matters.