Hindu Undivided Family status establishes separate tax personhood with distinct Karta and coparcenary rules governing family property. A Hindu Undivided Family (HUF) is a separate taxable person arising by status under Hindu law, with coparcenary members acquiring interests by birth and joint family property comprising ancestral property, partition allotments, property acquired with family funds, and blended separate property; Section 64(2) can treat impressed separate property as joint family property. The Karta manages the HUF and the individual and HUF are distinct taxable units. Partition rules allow agreed unequal shares and Section 47 prevents capital gain on asset distribution on partition.